GBP/USD goes under uptrend line.
Trend expect to reverse and price to move lower down towards or below support levels (White Lines)
Expect price to rebound near support levels before going south further (technical perspective) or start a consolidation range (no news/catalyst for big momentum for the last week of 2020).
1st trade (Long): Aggressive traders can long a rebound trade near support and close at resistance levels (trendline or price resistance levels) in highlighted range
2nd trade (Short): Short at a higher price near resistance level in the highlighted range should downward pressure expect to continue. Ride it down below immediate support levels or close trade at support levels.
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Trend expect to reverse and price to move lower down towards or below support levels (White Lines)
Expect price to rebound near support levels before going south further (technical perspective) or start a consolidation range (no news/catalyst for big momentum for the last week of 2020).
1st trade (Long): Aggressive traders can long a rebound trade near support and close at resistance levels (trendline or price resistance levels) in highlighted range
2nd trade (Short): Short at a higher price near resistance level in the highlighted range should downward pressure expect to continue. Ride it down below immediate support levels or close trade at support levels.
Please give a like if you like this idea.
Follow us to receive our new ideas.
Good luck in trading.