The GBP is currently showing signs of weakness as it approaches a key resistance zone. Price action suggests a potential bearish reversal, with lower highs forming and momentum indicators signaling exhaustion. A rejection from this level could lead to a continuation of the downtrend. Traders may look for short opportunities upon confirmation of a breakdown below support, with potential targets at previous swing lows.
Key Points:
Price testing major resistance zone.
Bearish candlestick patterns visible.
Momentum divergence / overbought RSI (if applicable).
Potential short entry on breakdown with tight risk management.
This is just idea not financial advice
Key Points:
Price testing major resistance zone.
Bearish candlestick patterns visible.
Momentum divergence / overbought RSI (if applicable).
Potential short entry on breakdown with tight risk management.
This is just idea not financial advice
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.