GBPUSD 4HR - Short after reaching key resistance areas
GBPUSDPrice has reached an area that contains:
• 50.0-65.2 fib
• 200EMA
• Upper Bollenger Band
• Long Term Trendline
Also MACD bearish divergence between 26th Aug and 27th Aug.
Expecting price to move lower from Daily S1 (1.22240) to Daily S3 level that is also the Weekly S1 level at 1.21265. Second target at above physiological 1.20 which is just above the Weekly S2 and Monthly S1 level.
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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.