Potential reversal
Updated
Outlook on GBPUSD:
last week we managed to catch the drop of the pair two times exceeding 150 points.
looking at the pair we se that it has not managed to break above the resistance line. Now we see a reversal pattern rebounding off a key supply zone. Our view is still bearish but we will wait further confirmation before entering any trade.
If price closes below 1.26238 , we will look to enter a short position targeting 1.256. Closing below it could take us to test the demand area between 1.24373 and 1.24489.
last week we managed to catch the drop of the pair two times exceeding 150 points.
looking at the pair we se that it has not managed to break above the resistance line. Now we see a reversal pattern rebounding off a key supply zone. Our view is still bearish but we will wait further confirmation before entering any trade.
If price closes below 1.26238 , we will look to enter a short position targeting 1.256. Closing below it could take us to test the demand area between 1.24373 and 1.24489.
Trade closed: target reached
Congrats all.
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.