The underlying downtrend on this unit of time is very strong for GBP / USD but the short term is showing some signs of slowing down. However, we could consider a sell as long as the price remains below 1.3920 USD. The crossing of the first support at 1.3742 USD would be the sign of a further potential drop in the price. The sellers would then aim for the next support located at 1.3654 USD. Its crossing would then allow sellers to target USD 1.3473. Be careful, a return above the resistance located at 1.3920 USD would be the sign of a possible consolidation phase of the short-term underlying trend on this unit of time. If this is the case, remember that trading against the trend may be more risky. It would seem more relevant to wait for a signal to resume the trend.
I don't suggest to sell now, wait for a retest or a break followed by a retest! Cheers!
I don't suggest to sell now, wait for a retest or a break followed by a retest! Cheers!
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