Hello traders! GBP/USD is in a downtrend for more than two months now.
However, that could change very soon. With FOMC coming up in a few hours,
a trend change could be on the cards for GBP/USD and other USD pairs.
📌1.2310-1.2325 is the area that I would be looking at for potential reversals.
📌If the level holds and we can see some bullish impulsive candles forming at
this level, we can consider buy trades.
📌A buy entry in GBP/USD @1.2310-1/2325 with SL below 1.2260 and initial
TP at 1.2610 would be my potential trade if GBP/USD doesn't break the 1.2310 key level.
However, that could change very soon. With FOMC coming up in a few hours,
a trend change could be on the cards for GBP/USD and other USD pairs.
📌1.2310-1.2325 is the area that I would be looking at for potential reversals.
📌If the level holds and we can see some bullish impulsive candles forming at
this level, we can consider buy trades.
📌A buy entry in GBP/USD @1.2310-1/2325 with SL below 1.2260 and initial
TP at 1.2610 would be my potential trade if GBP/USD doesn't break the 1.2310 key level.
Note
Waiting to see if GBPUSD reaches the 1.2310 levelNote
As I mentioned multiple times, 1.2310 has been visited. This is the beauty of key levels
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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.