Selling pressure came back into play for GBPUSD in the recent session as the price got closer to the 1.2400 resistance zone and produced more clear bearish indicators. Nevertheless, the earlier reversal signs, such as the double bottom pattern and the breakdown of price structure, remain intact. Therefore, it's advisable to maintain your current long positions with the target still set at around the 1.2600 level.
Note
GBPUSD cannot penetrate the lower resistance zoneNote
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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.