GBPUSD WANT DROPING SIDE at 157.70
Here's a more detailed descr
**GBPUSD Trade Setup: SELLING ZONE AT 1.5770**
Currently, the GBPUSD pair is setting up for a potential selling opportunity at the 1.5770 level. This area is marked as a key resistance zone, where the price may encounter downward pressure.
### **Technical Target: 1.5500**
Our primary technical target for this trade is the 1.5500 level. This target is based on recent price action, indicating a likely retracement to this support zone, given the prevailing bearish sentiment in the market.
### **Support Level: 1.5640**
The first level of support to watch is 1.5640. A break below this could signal further downside momentum towards the 1.5500 target.
### **Resistance Level: 1.5859**
On the upside, 1.5859 is a key resistance level that needs to hold for the bearish bias to remain intact. A breakout above this level could invalidate the selling scenario.
### **Trade Plan:**
1. **Entry:** Sell at 1.5770 (near the resistance zone)
2. **Stop Loss:** Place a stop above 1.5859 (above resistance)
3. **Take Profit:** Set take profit at 1.5500 (technical target)
**GBPUSD Trade Setup: SELLING ZONE AT 1.5770**
Currently, the GBPUSD pair is setting up for a potential selling opportunity at the 1.5770 level. This area is marked as a key resistance zone, where the price may encounter downward pressure.
### **Technical Target: 1.5500**
Our primary technical target for this trade is the 1.5500 level. This target is based on recent price action, indicating a likely retracement to this support zone, given the prevailing bearish sentiment in the market.
### **Support Level: 1.5640**
The first level of support to watch is 1.5640. A break below this could signal further downside momentum towards the 1.5500 target.
### **Resistance Level: 1.5859**
On the upside, 1.5859 is a key resistance level that needs to hold for the bearish bias to remain intact. A breakout above this level could invalidate the selling scenario.
### **Trade Plan:**
1. **Entry:** Sell at 1.5770 (near the resistance zone)
2. **Stop Loss:** Place a stop above 1.5859 (above resistance)
3. **Take Profit:** Set take profit at 1.5500 (technical target)
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