Potential Trade Setup on GBPUSD
The price has successfully retested a very strong support after the 3-week rally it exhibited in March.
However there has been little to no pullback after the rally, and currently, it is firing a possible divergence at 1.2970
The price is developing, and I am waiting for a break below the support area at 1.2960 to take a possible short-term sell trade.
A BUY opportunity is at the bottom of the 50% fib at 1.2700.
You may find more details in the chart!
Thank you and Trade Responsibly!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading
The price has successfully retested a very strong support after the 3-week rally it exhibited in March.
However there has been little to no pullback after the rally, and currently, it is firing a possible divergence at 1.2970
The price is developing, and I am waiting for a break below the support area at 1.2960 to take a possible short-term sell trade.
A BUY opportunity is at the bottom of the 50% fib at 1.2700.
You may find more details in the chart!
Thank you and Trade Responsibly!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading
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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.