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Faisal-Nagi

GBP/USD Short Sell - Potential Downtrend Continuation

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
Faisal-Nagi  
OANDA:GBPUSD   British Pound / U.S. Dollar
Technical Indicators Trend Analysis Wave Analysis
1
0
indicator trendanalysis waveanalysis


Consider a short position on GBP/USD with an entry at 1.272. The pair has struggled to break resistance at this level, and recent weak economic data and political uncertainty point toward further GBP depreciation. Target 1 is set at 1.255, a key support level and potential area of profit-taking. If momentum persists, target 2 at 1.230 offers a significant reward-to-risk ratio. Manage risk with a stop-loss above 1.280. This trade aligns with the broader bearish sentiment on GBP and could offer attractive gains in the current market climate.
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