GBPUSD - Long opportunity on the pullback
Bearish FED outlook has driven GBPUSD on an uptrend. Market is currently testing a key resistance zone, marked between 1.25705 - 1.25834. Coupled with RSI readings within the overbought territory, strong bearish presence is expected to challenge the bulls.
Trade: Wait for market to break through key resistance zone. Once broken, wait for a pullback around the resistance of the trend channel. Enter when market pulls towards the previous resistance zone, which would now become the new support zone. Even better, wait for a bullish reversal signal, such as a hammer or morning star to form before entering the trade.
Trade: Wait for market to break through key resistance zone. Once broken, wait for a pullback around the resistance of the trend channel. Enter when market pulls towards the previous resistance zone, which would now become the new support zone. Even better, wait for a bullish reversal signal, such as a hammer or morning star to form before entering the trade.