GBPUSD SELL NOW
GBP/USD Analysis - Bearish Reversal Setup
The GBP/USD pair is forming a bearish reversal pattern, as indicated by the resistance zone at 1.23493 (highlighted in yellow). This level has been tested twice, showing rejection with two prominent bearish candlesticks (red circles).
Trade Idea
Entry: The current price level near 1.23158 provides an opportunity for a short position.
Stop Loss: Placed just above the resistance zone at 1.23493, to mitigate risks.
Target: The downside target is set at 1.22387, aligning with a key support level from recent price action.
Technical Notes
The rejection from the resistance zone suggests selling pressure, indicating a potential move downward.
The risk-to-reward ratio aligns with proper trade management.
This setup is based on recent market structure and candlestick behavior. Monitor for potential continuation signals or invalidation of the pattern.
The GBP/USD pair is forming a bearish reversal pattern, as indicated by the resistance zone at 1.23493 (highlighted in yellow). This level has been tested twice, showing rejection with two prominent bearish candlesticks (red circles).
Trade Idea
Entry: The current price level near 1.23158 provides an opportunity for a short position.
Stop Loss: Placed just above the resistance zone at 1.23493, to mitigate risks.
Target: The downside target is set at 1.22387, aligning with a key support level from recent price action.
Technical Notes
The rejection from the resistance zone suggests selling pressure, indicating a potential move downward.
The risk-to-reward ratio aligns with proper trade management.
This setup is based on recent market structure and candlestick behavior. Monitor for potential continuation signals or invalidation of the pattern.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.