GBPUSD Possible Short
GBPUSD reached a key resistance near 1.24500 and sold off breaking a previous high of 1.23445 before cooling off at its support. The lack of an impulsive move after approaching support suggests a weakness in both the zone support and trendline support which we'll see the bulls cooling off and letting the bears take their shorts. We might see a retest of the broken high before going downwards, as much as market sentiment seems to be changing but we are still at a support, so we'll follow the "buy low, sell high" motto. This is not financial advice in anyway but simply a trading idea.
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.