This analysis outlines a potential short trading opportunity for the GBP/USD pair based on current fundamental, technical, and sentiment factors. The pair has been on a downward trend, with a further drop anticipated if certain psychological levels are breached. Technical indicators align with a bearish outlook, encountering significant resistance levels. The market sentiment, leaning towards risk-aversion, continues to exert downward pressure on the GBP against the USD.
Entry Point: 1.2160
Take Profit 1: 1.2100
Take Profit 2: 1.2050
Stop Loss: 1.2210
Entry Point: 1.2160
Take Profit 1: 1.2100
Take Profit 2: 1.2050
Stop Loss: 1.2210
Trade active
Trade closed: stop reached:
TP1 reached