Gbp/Usd (Wedge) Intraday Analysis

FX:GBPUSD   British Pound / U.S. Dollar
The GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours.

Key Points:

Sell Entry: Consider entering a short position around the current price of 1.2806, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels:
1st Support – 1.2763
2nd Support – 1.2735

Stop-Loss: To manage risk, place a stop-loss order above 1.2850. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

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