Key levels in GBP/USD: Best level to sell? + 210 Pips
Dear traders, GBP/USD has rallied quite a bit after consolidating for a few days.
Currently, price has crossed a key level 1.2560 which is a moderate resistance level.
Whether the level has been broken or not can not be said with certainity because we
are not seeing a big bullish candlesticks in the level. In case, bearish price action
happens at this level, we can see GBP/USD slide back to 1.2450 level.
However, a bigger resistance lies in 1.2675 where I think it would be a good sell entry
in case price reaches that level. TP can be placed at 1.25 with SL above the resistance.
Currently, price has crossed a key level 1.2560 which is a moderate resistance level.
Whether the level has been broken or not can not be said with certainity because we
are not seeing a big bullish candlesticks in the level. In case, bearish price action
happens at this level, we can see GBP/USD slide back to 1.2450 level.
However, a bigger resistance lies in 1.2675 where I think it would be a good sell entry
in case price reaches that level. TP can be placed at 1.25 with SL above the resistance.
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