Exactly one week ago, I pointed out that while 
GBPUSD strength persists, the pair is approaching a significant sell zone, starting at the psychological level of 1.30.
This level was touched recently, and the pair is currently fluctuating within this range now.
My view remains the same: GBP/USD is likely to experience a drop in the near future, and I’m now looking for potential entries for a swing trade.
As mentioned before, 1.30 is a key psychological level, with the technical resistance just above it at 1.3050. Additionally, GBP/USD is known for its volatility, and this resistance zone extends slightly above 1.31.
In conclusion, traders should consider selling rallies, with a target around 1.27, aiming for at least a 1:2 risk-to-reward ratio when setting their stop loss.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
GBPUSD strength persists, the pair is approaching a significant sell zone, starting at the psychological level of 1.30.This level was touched recently, and the pair is currently fluctuating within this range now.
My view remains the same: GBP/USD is likely to experience a drop in the near future, and I’m now looking for potential entries for a swing trade.
As mentioned before, 1.30 is a key psychological level, with the technical resistance just above it at 1.3050. Additionally, GBP/USD is known for its volatility, and this resistance zone extends slightly above 1.31.
In conclusion, traders should consider selling rallies, with a target around 1.27, aiming for at least a 1:2 risk-to-reward ratio when setting their stop loss.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.