GBP/USD in consolidation, best level to buy +240 Pips
Dear traders, GBP/USD is currently in consolidation mode. The price action
is neutral at the moment which is why it would be unwise to buy or sell
at the current price level.
However, the level 1.2310 is very important as it is the confluence of the
100-day EMA and previous bounce point. So, if price dips to the said level
and we see formation of bullish price action, traders can go long in
GBP/USD@1.2310 with SL below 1.2250 and initial TP at 1.2550.
is neutral at the moment which is why it would be unwise to buy or sell
at the current price level.
However, the level 1.2310 is very important as it is the confluence of the
100-day EMA and previous bounce point. So, if price dips to the said level
and we see formation of bullish price action, traders can go long in
GBP/USD@1.2310 with SL below 1.2250 and initial TP at 1.2550.