Fellow Traders! I have spotted a potential trading opportunity, GBP/USD (SHORT)
ANALYSIS:
I expect the price to either reject off this key level or potentially continue to break through resistance, creating a new support level and continuing to travel to the next key resistance level which is currently on a downtrend. However, I believe this is unlikely. Ultimately I expect to see some bearish momentum from either of these key points making it a great opportunity too short. Let's see how this plays out as there's a lot of buyer pressure currently which is coming to a halt.
ANALYSIS:
I expect the price to either reject off this key level or potentially continue to break through resistance, creating a new support level and continuing to travel to the next key resistance level which is currently on a downtrend. However, I believe this is unlikely. Ultimately I expect to see some bearish momentum from either of these key points making it a great opportunity too short. Let's see how this plays out as there's a lot of buyer pressure currently which is coming to a halt.