GBP/USD daily chart analysis, how far will it fall?
Dear traders, in my previous two GBP/USD ideas I recommended selling in the 1.2650 level.
As you can see, price has fallen more than 200 pips since then. In the daily chart, we have a clear
resistance zone marked with multiple bearish candlestick patterns. So, it is likely that GBP/USD
will continue to drop.
However, I do not recommend selling at the current price as it will increase your risk. I always advice
selling at higher prices. So, if you missed out on selling at the 1.2670 resistance level, wait for a
pullback and then sell.
It would be wise to switch to the lower TF and wait for a pullback before selling again.
As you can see, price has fallen more than 200 pips since then. In the daily chart, we have a clear
resistance zone marked with multiple bearish candlestick patterns. So, it is likely that GBP/USD
will continue to drop.
However, I do not recommend selling at the current price as it will increase your risk. I always advice
selling at higher prices. So, if you missed out on selling at the 1.2670 resistance level, wait for a
pullback and then sell.
It would be wise to switch to the lower TF and wait for a pullback before selling again.