Trade Idea
Duration: Intraday
Expires: 12/06/2025 06:00
Technical Overview
Risks
Key Technical Levels
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
- Type: Sell Limit
- Entry: 1.3557
- Target: 1.3415
- Stop Loss: 1.3593
Duration: Intraday
Expires: 12/06/2025 06:00
Technical Overview
- GBPUSD has retraced a majority of its daily losses, with recent gains facing selling pressure in the Asian session.
- The medium-term bias remains bearish, and the rally toward bespoke resistance at 1.3557 presents an opportunity to fade strength.
- Volatility is expected to remain elevated, but price action continues to respect the broader downtrend structure.
- The preferred approach is to sell into rallies, anticipating renewed downside momentum toward support at 1.3415.
Risks
- Caution is warranted ahead of key U.S. CPI data releases at 13:30 UTC, which may amplify volatility and influence short-term dollar flows.
- There is also a spending review in the UK, which may cause volatility.
Key Technical Levels
- Resistance: 1.3557 / 1.3582 / 1.3617
- Support: 1.3457 / 1.3415 / 1.3224
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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.
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.