Dear Traders,
I'm observing a descending channel on GU, and expecting price to approach a key resistance zone around 1.3110 - 1.3170, marked in red. I'll be looking for bearish signs with clear confirmation, in this area to consider potential short entries. Should GBPUSD respect this resistance, it may retrace downwards, targeting support levels around 1.2900 and potentially reaching the 1.2820 zone if bearish momentum persists.
However, if buyers break through the resistance, I expect further bullish movement towards the upper yellow zones. Monitoring closely for confirmations before taking any position. 🚨
Any question comment me bellow!
I'm observing a descending channel on GU, and expecting price to approach a key resistance zone around 1.3110 - 1.3170, marked in red. I'll be looking for bearish signs with clear confirmation, in this area to consider potential short entries. Should GBPUSD respect this resistance, it may retrace downwards, targeting support levels around 1.2900 and potentially reaching the 1.2820 zone if bearish momentum persists.
However, if buyers break through the resistance, I expect further bullish movement towards the upper yellow zones. Monitoring closely for confirmations before taking any position. 🚨
Any question comment me bellow!
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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.