GBPUSD >> Strong Sell Setup as Market Breaks Key Support
Hello Traders
The GBPUSD market has recently broken a strong support level, as previously predicted in my previous analysis, and has now fallen over 200 pips. This level is now expected to become a resistance zone near the 1.1900 price point.
This sets up a perfect sell opportunity for traders. Waiting for a bearish confirmation such as a double top or a bearish engulfing pattern would be ideal before taking a sell entry. Additionally, placing a stop loss above the resistance zone would be wise to protect against any unexpected bullish movements.
Don't forget to properly manage your risk and utilize effective risk management techniques.
For more trading insights and analysis, be sure to follow and like my page. Leave a comment and share if you found this helpful! Happy trading."
The GBPUSD market has recently broken a strong support level, as previously predicted in my previous analysis, and has now fallen over 200 pips. This level is now expected to become a resistance zone near the 1.1900 price point.
This sets up a perfect sell opportunity for traders. Waiting for a bearish confirmation such as a double top or a bearish engulfing pattern would be ideal before taking a sell entry. Additionally, placing a stop loss above the resistance zone would be wise to protect against any unexpected bullish movements.
Don't forget to properly manage your risk and utilize effective risk management techniques.
For more trading insights and analysis, be sure to follow and like my page. Leave a comment and share if you found this helpful! Happy trading."
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