GBPUSD Sell strategy?
Updated
Hello everyone! What are your thoughts on GBPUSD today?
From our chart analysis, it's evident that this currency pair is under bearish pressure. It has recently broken below the ascending trendline and is currently in a downtrend wave.
Currently trading at 1.266, I believe GBPUSD might gain some short-term bullish momentum from the support around this level. However, it is likely to resume its downward trend after completing a retracement to the 0.5 - 0.618 Fibonacci levels.
My target for this scenario is 1.252. What about you? Do you agree with this analysis, or do you have a different perspective?
From our chart analysis, it's evident that this currency pair is under bearish pressure. It has recently broken below the ascending trendline and is currently in a downtrend wave.
Currently trading at 1.266, I believe GBPUSD might gain some short-term bullish momentum from the support around this level. However, it is likely to resume its downward trend after completing a retracement to the 0.5 - 0.618 Fibonacci levels.
My target for this scenario is 1.252. What about you? Do you agree with this analysis, or do you have a different perspective?
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