GBPUSD Possible Short

17 בדצמ׳ 2022

GBPUSD reached a key resistance near 1.24500 and sold off breaking a previous high of 1.23445 before cooling off at its support. The lack of an impulsive move after approaching support suggests a weakness in both the zone support and trendline support which we'll see the bulls cooling off and letting the bears take their shorts. We might see a retest of the broken high before going downwards, as much as market sentiment seems to be changing but we are still at a support, so we'll follow the "buy low, sell high" motto. This is not financial advice in anyway but simply a trading idea.