GBP/USD Bearish Setup:
The GBP/USD pair is currently exhibiting a bearish trend following a clear Change of Character (ChoCH) and the formation of a significant bearish candle around the 1.35388 zone. This level serves as an ideal entry point for sell positions. Price action confirms rejection from a key resistance area at 1.36306, while the immediate support level lies at 1.33669. Our projected target for this bearish move is 1.32906, offering a favorable risk-to-reward setup. Traders are advised to monitor price action closely around the entry level for confirmation and manage positions with discipline.
The GBP/USD pair is currently exhibiting a bearish trend following a clear Change of Character (ChoCH) and the formation of a significant bearish candle around the 1.35388 zone. This level serves as an ideal entry point for sell positions. Price action confirms rejection from a key resistance area at 1.36306, while the immediate support level lies at 1.33669. Our projected target for this bearish move is 1.32906, offering a favorable risk-to-reward setup. Traders are advised to monitor price action closely around the entry level for confirmation and manage positions with discipline.
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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.