In the GBP/USD trade analysis, a short-term bearish bias is observed. The currency pair's recent price action reveals a struggle to breach resistance levels, accompanied by weakening momentum indicators. This scenario hints at a potential reversal in the near term. Traders could consider short positions, targeting support levels as potential profit-taking areas. However, monitoring news events and broader market sentiment remains crucial, as these factors could influence the trade's outcome. It's advisable to set stop-loss orders to manage risk effectively and adapt to any unforeseen market fluctuations during this short-term bearish phase.
Trade active
Trade closed: target reached