British Pound / U.S. DollarUpdated GBP/USD in a consolidation phase,how to trade it now?
Dear traders, GBP/USD is currently in a consolidation phase.
Price is moving in a 60-pip range between 1.2696 to 1.2758.
Short-term traders can take advantage of this and consider scalping
this range. However, long-term traders need to wait for a breakout.
Keep in mind that the price is still above the 100 EMA on the 4-hour chart.
So, the bias is still tilted to the bullish side.
If price touches the EMA at 1.2668 and rebounds, we can consider buy entries
in GBP/USD.
Price is moving in a 60-pip range between 1.2696 to 1.2758.
Short-term traders can take advantage of this and consider scalping
this range. However, long-term traders need to wait for a breakout.
Keep in mind that the price is still above the 100 EMA on the 4-hour chart.
So, the bias is still tilted to the bullish side.
If price touches the EMA at 1.2668 and rebounds, we can consider buy entries
in GBP/USD.
Note
And price has touched the 1.2668 level as I mentioned
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.