GBPUSD Sell

13 мар. 2023 г.

The GBP/USD has gone back and forth during the course of the trading week to show signs of hesitation, but we did dip a little bit lower during the week. Because of this, I think that if we break down below the bottom of the candlestick for the week, then it opens up a potential run down to the 1.15 level. To the upside, the 50-Week EMA comes into the picture near the 1.22 level, and I think could offer a bit of resistance. It does look like we are trying to bounce a bit, but it’s worth noting that several of the previous weekly candlesticks have formed inverted hammers and therefore I think going higher from here is going to be a bit of a struggle.

GBPUSD h1 price is still on the upside. Today, it is possible that the pair will sweep up to the 1.2140 resistance area and then turn down again. Recommend waiting to sell to 1.2140, SL: 1.2180, TP: 1.2040