GBPUSD: A pullback is possible.

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD reached very close to the 1.32 level but pulled back very sharply during the NY trading session on Friday.
Looking at the daily chart , GBPUSD's rally looks overstretched at the moment. So, it's likely that we can see a deep pullback in GBPUSD over the next few days.

However, we need some more confirmation before selling this. Price is still above the crucial moving averages on the hourly chart. If price dips below the 100H EMA , then we can say that a short-term trend reversal is taking place.

Right now, we must wait for a good entry. However, if price reaches the resistance level between 1.3150-1.3200, I will take a small risk and sell GBPUSD .


looks good to me!
Check my chart!
Nice! We like it when the long term and short term falls in line!

What do you think of our intraday idea?
To me, it looks too easy. The market makers will take advantage of this.
ProCFDTrader Maverick40
@Maverick40, Yeah sometimes, it's really easy
Great 😉
ProCFDTrader JuanCruzMontes
@JuanCruzMontes, Thank you :)
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