GU is approaching resistance zone: Massive shorts AHEAD!!!

Short

British Pound / U.S. Dollar (FX:GBPUSD)

FX:GBPUSD British Pound / U.S. Dollar

This symbol has been trading in a rising wedge and the price is approaching the resistance of the wedge which is also in confluence with the resistance zone of 1.2150 - 1.2250. Further, the RSI is also contributing to the bearish bias by signalling overbought. If price reverses at the resistance zone, then it may be possible to realise TP1 - TP5.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.