GBPUSD testing strong resistance. 2 possible trade setup
This is the 4th time this level has been tested since May 2015, There are 2 possible set ups that may take place here.
1 - if the level 1.5125 is broken, then there is potential downside to the next resistance level, which is located at 1.49772.
2 - with, in my opinion, equal probability, the price will rebound back up again with a strong fundamental news once the reversal breaks 1.5220, then reversal can be verified, and the next target would be 1.5322.
1 - if the level 1.5125 is broken, then there is potential downside to the next resistance level, which is located at 1.49772.
2 - with, in my opinion, equal probability, the price will rebound back up again with a strong fundamental news once the reversal breaks 1.5220, then reversal can be verified, and the next target would be 1.5322.