💡 GBPUSD: Wait to sell at the reversal signal
➡️ GBPUSD has approached the weekly resistance zone and we see the price weakening in momentum. That means the price forms a higher peak, but it is clear that neither the candlestick nor the distance to create the peak is strong.
However, this is not a reversal signal. If we want a reversal trade from this zone, we need more confirmation.
✔️ So with this currency pair, you should first monitor the price action around the current area. If the price forms a strong reversal signal, you can consider selling.
In case the price continues to rise and breaks the current resistance, we will continue to buy.
However, this is not a reversal signal. If we want a reversal trade from this zone, we need more confirmation.
✔️ So with this currency pair, you should first monitor the price action around the current area. If the price forms a strong reversal signal, you can consider selling.
In case the price continues to rise and breaks the current resistance, we will continue to buy.
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