GBPUSD continues the strong bearish trend and has broken the significant support from Jun-Jul'22. Right now it's retesting the support as resistance.
Plan: Considering the recent increase in FED interest rates, stronger USD and weaker GBP fundamentals. As the price reflects back from resistance it can rally to the next major resistance area near 11100-11000, trade plan can be as follow:
SL: 11430
Entry: 11290
TP: 11100
Plan: Considering the recent increase in FED interest rates, stronger USD and weaker GBP fundamentals. As the price reflects back from resistance it can rally to the next major resistance area near 11100-11000, trade plan can be as follow:
SL: 11430
Entry: 11290
TP: 11100
Comment:
CONSIDER THIS IDEA VOID PLEASE. THE PAIR MENTIONED IS WRONG, THE IDEA WAS FOR US100, NOT FOR GBPUSD