Hi traders! Analyzing GBP/USD on the 1H timeframe, spotting a potential rejection at the descending trendline:
🔹 Entry: 1.29660
🔹 TP: 1.28652
🔹 SL: 1.30650
Price is reacting to the descending trendline after testing a key resistance zone. This level has acted as dynamic resistance in the past, and price shows signs of rejection.
The RSI is in the overbought area, suggesting a possible pullback. If the bearish momentum confirms, we could see a clean move back down to the previous support levels.
⚠️ DISCLAIMER: This is not financial advice. Every trader must evaluate their own risk and strategy.
🔹 Entry: 1.29660
🔹 TP: 1.28652
🔹 SL: 1.30650
Price is reacting to the descending trendline after testing a key resistance zone. This level has acted as dynamic resistance in the past, and price shows signs of rejection.
The RSI is in the overbought area, suggesting a possible pullback. If the bearish momentum confirms, we could see a clean move back down to the previous support levels.
⚠️ DISCLAIMER: This is not financial advice. Every trader must evaluate their own risk and strategy.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.