GBP/USD daily chart analysis : 1.2450 on the cards?
Dear traders, in the daily chart of GBP/USD, we can see that the bullish
momentum has faded in the last 6-7 days. After hitting the 1.2830 level, price
is slowly retreating.
Yesterday's daily candle is a long-legged doji which indicates indecision in the market.
However, looking at the price action it seems 1.2720 is now a solid resistance in the
hourly chart.
So, as long as price stays below the 1.2720 level, GBP/USD can fall further to 1.26 and
eventually to 1.2450 level.
momentum has faded in the last 6-7 days. After hitting the 1.2830 level, price
is slowly retreating.
Yesterday's daily candle is a long-legged doji which indicates indecision in the market.
However, looking at the price action it seems 1.2720 is now a solid resistance in the
hourly chart.
So, as long as price stays below the 1.2720 level, GBP/USD can fall further to 1.26 and
eventually to 1.2450 level.
Trade active:
Sold@1.2735