Get started

GBP-USD-SELL

GBPUSD 24/9/23GU if you haven't already noticed has been falling like a stone from last week, now of course you will see this is pretty much the same moves our other pairs have been making, giving us a nice uniform correlation and with this we are looking for it to line up if we do reverse with our other prediction. Of course it is not something we actively seek to do which is trade against trend, but we are seeing more than just structure pointing to the upside including our liquid highs withing our current bearish range. Overall bearish, so if we do drop deeper don't be shocked! We are aiming for the lows but we are looking for a entry setup to long this if that's what she wants to do, of course lower trend and deeper moves may come, if so we will follow this to. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPUSD sell Short term In the GBP/USD trade analysis, a short-term bearish bias is observed. The currency pair's recent price action reveals a struggle to breach resistance levels, accompanied by weakening momentum indicators. This scenario hints at a potential reversal in the near term. Traders could consider short positions, targeting support levels as potential profit-taking areas. However, monitoring news events and broader market sentiment remains crucial, as these factors could influence the trade's outcome. It's advisable to set stop-loss orders to manage risk effectively and adapt to any unforeseen market fluctuations during this short-term bearish phase.
Short
by creamygem
GBPUSD Potential DownsidesHey Traders, In anticipation of tomorrow's trading session, we have identified GBPUSD as a currency pair to closely monitor for a potential selling opportunity. GBPUSD is currently trading within a persistent downtrend, and at present, it is undergoing a correction phase. This correction phase is noteworthy as the currency pair is gradually approaching a significant support and resistance zone situated at the 1.29 level. The 1.29 zone holds substantial importance, as it aligns with the major trend and has historically demonstrated significant price reactions. Given these factors, we will be diligently observing GBPUSD's price action to evaluate whether the conditions align for a favorable selling position. Our analysis will focus on the development of the correction phase and its interaction with the 1.29 zone, as this will provide valuable insights into potential future price movements. By closely monitoring these dynamics, we aim to capitalize on a potential retracement or resumption of the downtrend. Trade safe, Joe.
Short
by JoeChampion
39