GBPUSD Hits Resistance – Is Selling Opportunity Coming?
Today, GBPUSD is showing a potential short setup based on recent price action and key technical levels. The pair is trading around 1.2963, close to a significant resistance zone near 1.2990-1.3000, as shown on the chart. This area is converging with the 34 EMA and 89 EMA, which could act as additional resistance.
Traders can consider entering near current levels with a stop loss above 1.3047. This setup offers an opportunity for a downside move within a controlled risk-on environment.
What do you think about this setup? Do you think the resistance will hold or is GBPUSD likely to break above it and continue the uptrend?
Traders can consider entering near current levels with a stop loss above 1.3047. This setup offers an opportunity for a downside move within a controlled risk-on environment.
What do you think about this setup? Do you think the resistance will hold or is GBPUSD likely to break above it and continue the uptrend?
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