Hourly chart in GBP/USD shows potential for downside
Dear traders, on account of US dollar weakness across the board, GBPUSD spiked to the
1.2560 level. However, it has not been able to breach the zone that I have
highlighted in my chart.
Current price action is showing the formation of bearish candlesticks in the
PRZ( potential reversal zone). So, if the price does not break 1.2560, traders
can consider short-term sell entries in GBP/USD@1.2560 with SL above resistance
and TP at 1.2450
1.2560 level. However, it has not been able to breach the zone that I have
highlighted in my chart.
Current price action is showing the formation of bearish candlesticks in the
PRZ( potential reversal zone). So, if the price does not break 1.2560, traders
can consider short-term sell entries in GBP/USD@1.2560 with SL above resistance
and TP at 1.2450
Trade attivo:
Sold@1.2565
Commento:
GBPUSD dropped as expected, Running in 25 pips profit