GBPUSD - A Bullish Trend with a Cautionary Note

Hey traders! Let's dive into the EUR/USD market analysis. While many are eyeing a shorting opportunity at 1.2743, leveraging RSI Divergence, it's crucial to acknowledge the overarching bullish trend on both daily and weekly charts.

Currently, the market is hovering around a critical support level at 1.2723. A 20-pip move might not be substantial, but it can be a telling sign. Here's what to watch out for:

If the market bounces from this support level, it could indicate a continued bullish trend.
A breakdown below 1.2723 might attract more sellers, potentially leading to a short-term correction.

Keep in mind that the bullish trend on higher time frames still holds sway. Let's monitor the market's reaction at this support level before making a move.

Stay vigilant, and let's trade wisely!

RaynLim

🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker

Get into our 15mins workday community
discord.gg/AKDr9vPqH7

Live session & Trading Tips on the GO
instagram.com/raynlim/

Also on:

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.

RaynLim

Also on: