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Contrasting Trends, Caution Advised
British Pound / U.S. Dollar
Contrasting Trends, Caution Advised
By RaynLim
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Sep 17, 2023
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Sep 17, 2023
It is crucial to have a good grasp of how to interpret the market before making any trades.
Although the current pound dollar movement leans towards bearish, the weekly chart indicates a positive trend.
To capitalize on this, trend traders should sell, while counter-trend traders can take advantage of a shorting opportunity at 1.2317.
The buy zone lies between 1.2313 to 1.2689, with a weaker bullish movement on the weekly chart.
Remember to always conduct your own analysis and avoid blindly following others. If you're interested in learning more, feel free to chat with me.
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countertrend
GBPUSD
Harmonic Patterns
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structureanalysis
structure-trade
Support and Resistance
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