GBP/USD is currently in a rising channel. However, price is struggling to break
the channel resistance. Current price action indicates bulls are getting exhausted.
As long as price stays below the resistance, GBP/USD is likely to drop to 1.2950.
I would be looking to sell the rallies in GBP/USD.
A strong break above the channel resistance would make this set-up invalid.
the channel resistance. Current price action indicates bulls are getting exhausted.
As long as price stays below the resistance, GBP/USD is likely to drop to 1.2950.
I would be looking to sell the rallies in GBP/USD.
A strong break above the channel resistance would make this set-up invalid.
Trade closed: target reached
Reached target and even dropped further. 180 pips profit for those who followed
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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.