Price unable to break resistance,rallies could be sold
Dear traders, GBP/USD has been unable to break the dynamic resistance on the 4-hour chart.
Hence, the bears now have the upper hand.
Minor support at 1.2160 exists, which if broken could open the doors to 1.19
As long a price is unable to break the dynamic resistance in the 4H chart, I would prefer to
sell the rallies in GBPUSD.
I have already sold at 1.2280 and if price spikes to that level again, I would recommend traders to
short it.
Hence, the bears now have the upper hand.
Minor support at 1.2160 exists, which if broken could open the doors to 1.19
As long a price is unable to break the dynamic resistance in the 4H chart, I would prefer to
sell the rallies in GBPUSD.
I have already sold at 1.2280 and if price spikes to that level again, I would recommend traders to
short it.