GBPUSD Potential Short Opportunity
We broke the previous trendline signaling the end of an uptrend. The market then pulled back, and continue it’s move to the downside signaling a downtrend.
We have also broken Daily Level of Support. Therefore, we have SHORT bias.
As of now we are waiting for the market to reach and rejects the 0.5-0.618 retracement. However if the candle breaks and closes above the 0.786 retracement then this trade would be invalidated. However, the market is currently rejecting the 0.382 Retracement.
If the market opens and we didn't test the 0.5-0.618 Retracement, we could enter right away IF the market gives us a good entry reason.
🚨Remember not to place trades blindly🚨
That is my analysis on this pair.
Let me know what's on your mind about this pair down in the comments!
We have also broken Daily Level of Support. Therefore, we have SHORT bias.
As of now we are waiting for the market to reach and rejects the 0.5-0.618 retracement. However if the candle breaks and closes above the 0.786 retracement then this trade would be invalidated. However, the market is currently rejecting the 0.382 Retracement.
If the market opens and we didn't test the 0.5-0.618 Retracement, we could enter right away IF the market gives us a good entry reason.
🚨Remember not to place trades blindly🚨
That is my analysis on this pair.
Let me know what's on your mind about this pair down in the comments!
إخلاء المسؤولية
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