GBPUSD 30Mins
The market is currently exhibiting a bearish trend, with downside momentum expected to continue as long as the resistance level at 1.2739 holds firm. Traders should monitor this level closely, as any failure to breach it will likely result in further downward movement.
*). The next significant price target on the downside is 1.26900.Traders should consider this level as a potential support area where the price may stabilize or reverse.
*). Short Positions: Consider maintaining or entering short positions while the price is below 1.2739.
Stop-Loss: Set a stop-loss above 1.2739 to manage risk effectively.
Take-Profit: Aim for the 1.26900 level as a potential take-profit point for short positions.
Bearish as long as resistance at 1.2739 remains intact.A break above 1.2739 could invalidate the downside bias and potentially lead to a reversal or a new bullish trend.
*). Monitor market sentiment and news that may impact price movement.Use technical indicators to confirm trends and entry/exit points.
By adhering to these guidelines, traders can better navigate the market's bearish conditions and manage their positions effectively.
*). The next significant price target on the downside is 1.26900.Traders should consider this level as a potential support area where the price may stabilize or reverse.
*). Short Positions: Consider maintaining or entering short positions while the price is below 1.2739.
Stop-Loss: Set a stop-loss above 1.2739 to manage risk effectively.
Take-Profit: Aim for the 1.26900 level as a potential take-profit point for short positions.
Bearish as long as resistance at 1.2739 remains intact.A break above 1.2739 could invalidate the downside bias and potentially lead to a reversal or a new bullish trend.
*). Monitor market sentiment and news that may impact price movement.Use technical indicators to confirm trends and entry/exit points.
By adhering to these guidelines, traders can better navigate the market's bearish conditions and manage their positions effectively.
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.
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.