This analysis outlines a potential short trading opportunity for the GBP/USD pair based on current fundamental, technical, and sentiment factors. The pair has been on a downward trend, with a further drop anticipated if certain psychological levels are breached. Technical indicators align with a bearish outlook, encountering significant resistance levels. The market sentiment, leaning towards risk-aversion, continues to exert downward pressure on the GBP against the USD.
Entry Point: 1.2160
Take Profit 1: 1.2100
Take Profit 2: 1.2050
Stop Loss: 1.2210
Entry Point: 1.2160
Take Profit 1: 1.2100
Take Profit 2: 1.2050
Stop Loss: 1.2210
Trade active
Trade closed: stop reached
TP1 reached
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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.