GBP/USD on the 2-hour (2H) time frame and anticipating a potential downside movement for a short-term trade. a selling opportunity, with target levels at 1.25030 and 1.24700.
Here are a few things to consider for confirmation:
Price Action and Candlestick Patterns: Look for bearish candlestick patterns or rejection at key levels (such as resistance) to confirm a short position. If you're using any technical indicators (e.g., RSI, MACD, Moving Averages), check if they support the bearish trend, such as overbought conditions or a bearish crossover.
3. Volume Analysis: A drop in price with increasing volume might suggest stronger bearish momentum.
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Here are a few things to consider for confirmation:
Price Action and Candlestick Patterns: Look for bearish candlestick patterns or rejection at key levels (such as resistance) to confirm a short position. If you're using any technical indicators (e.g., RSI, MACD, Moving Averages), check if they support the bearish trend, such as overbought conditions or a bearish crossover.
3. Volume Analysis: A drop in price with increasing volume might suggest stronger bearish momentum.
Lets like and comments for modified to share more analysis Thanks.
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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.