GBPUSD Getting ready for a drop
Based on the chart, price reached a major resistance are and yesterday a rejection happened at this point which can show are the strength of sellers at this area. Based on this rejection of price at this area and observing the weakness of buyers at this time, I prefer to be seller at this price with a good risk/reward ratio (1:3) which can provide low level of risk and high gain.
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
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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.