GBP/USD Bearish Trade Setup with Key Technical Levels
Updated
The price is currently trending downward, showing bearish momentum after a recent rejection from a significant resistance area.
The entry point is set at 1.27395, a key level that has acted as a confluence zone in previous price action.
The first take profit target is at 1.26700, a level that aligns with historical price congestion and provides a logical exit for short-term profit.
The second take profit target is at 1.26100, which aligns with the 50% Fibonacci retracement level, offering an extended profit target for potential continued downside movement.
Monitor for any reversal signals or strong bullish candles that might invalidate the bearish setup.
The entry point is set at 1.27395, a key level that has acted as a confluence zone in previous price action.
The first take profit target is at 1.26700, a level that aligns with historical price congestion and provides a logical exit for short-term profit.
The second take profit target is at 1.26100, which aligns with the 50% Fibonacci retracement level, offering an extended profit target for potential continued downside movement.
Monitor for any reversal signals or strong bullish candles that might invalidate the bearish setup.
Trade closed: target reached
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