US Dollar appears to be gaining some strength after a prolonged sell-off. So, there's a possibility that GBPUSD will reverse to the downside.
The area between 1.2750-1.2830 could be considered as a potential reversal zone.
Wait for bearish price action and sell with 1.2500 as TP1. Stop Loss can be placed at 1.2850
The above set-up will be invalid if GBP/USD breaks this zone with a big bullish candle.
The area between 1.2750-1.2830 could be considered as a potential reversal zone.
Wait for bearish price action and sell with 1.2500 as TP1. Stop Loss can be placed at 1.2850
The above set-up will be invalid if GBP/USD breaks this zone with a big bullish candle.
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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.