esterday, GBPUSD pulled back sharply and broke through key support levels. As I highlighted in my previous analysis, short positions were the preferred setup for those who followed.
▶️ Bullish scenario (morning setup)
This morning, a long from the 1.2570 support could make sense for a short-term bounce, with a tight stop.
▶️ Bearish scenario (main focus)
If 1.2570 fails, I will closely monitor the next key support at 1.2539. A confirmed break below would reinforce the bearish bias, making shorts the priority trade for the session.
⚠️ Overall, the broader trend remains fragile. Longs are only tactical at this stage — the primary bias remains bearish as long as GBPUSD trades below 1.2620.
▶️ Bullish scenario (morning setup)
This morning, a long from the 1.2570 support could make sense for a short-term bounce, with a tight stop.
▶️ Bearish scenario (main focus)
If 1.2570 fails, I will closely monitor the next key support at 1.2539. A confirmed break below would reinforce the bearish bias, making shorts the priority trade for the session.
⚠️ Overall, the broader trend remains fragile. Longs are only tactical at this stage — the primary bias remains bearish as long as GBPUSD trades below 1.2620.
Trade active
⚠️ Important note: Today, several key economic releases are scheduled for the GBP, which could bring increased volatility. Be ready to adapt to potential shifts in momentum.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.