Hello everyone! GBP/USD is a downward trajectory for a few weeks now.
Price has breached the 1.24 level based on the current price action,
we can see a further decline in GBP/USD. I know many of you have bought GBP/USD
or are waiting to buy. So, in this idea, I will give you some key levels from
where you can consider buying GBP/USD.
📌1.2310-1.2330 is a minor level from where you can expect some pullback in
GBP/USD.
📌 If price falls to 1.2310-1.2330, wait for a couple of bullish candles in the 4Hour
chart, you can expect price to reach 1.2530.
📌Normally, I do not recommend catching falling knives. So, I would advise traders
to wait for confirmation before going long. Right now, there are chances for further
declines in GBP/USD.
Price has breached the 1.24 level based on the current price action,
we can see a further decline in GBP/USD. I know many of you have bought GBP/USD
or are waiting to buy. So, in this idea, I will give you some key levels from
where you can consider buying GBP/USD.
📌1.2310-1.2330 is a minor level from where you can expect some pullback in
GBP/USD.
📌 If price falls to 1.2310-1.2330, wait for a couple of bullish candles in the 4Hour
chart, you can expect price to reach 1.2530.
📌Normally, I do not recommend catching falling knives. So, I would advise traders
to wait for confirmation before going long. Right now, there are chances for further
declines in GBP/USD.
Comment:
Price seems to have bounced back above 1.24 now. Did not buy it, but if it dips closer to my intended buy levela t 1.2320, I will pull the buy trigger on this