British Pound / U.S. DollarUpdated Key levels in GBP/USD: Best level to sell? + 210 Pips
Dear traders, GBP/USD has rallied quite a bit after consolidating for a few days.
Currently, price has crossed a key level 1.2560 which is a moderate resistance level.
Whether the level has been broken or not can not be said with certainity because we
are not seeing a big bullish candlesticks in the level. In case, bearish price action
happens at this level, we can see GBP/USD slide back to 1.2450 level.
However, a bigger resistance lies in 1.2675 where I think it would be a good sell entry
in case price reaches that level. TP can be placed at 1.25 with SL above the resistance.
Currently, price has crossed a key level 1.2560 which is a moderate resistance level.
Whether the level has been broken or not can not be said with certainity because we
are not seeing a big bullish candlesticks in the level. In case, bearish price action
happens at this level, we can see GBP/USD slide back to 1.2450 level.
However, a bigger resistance lies in 1.2675 where I think it would be a good sell entry
in case price reaches that level. TP can be placed at 1.25 with SL above the resistance.
Note
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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.