GBPUSD: Possible Buy Opportunity
The market has been falling for six days already. We can try to catch a pullback using 5m, 15m charts.
If the price bounces from 1.140000 support, there is room for the upward movement up to 1.20000 resistance.
RSI is in the oversold zone, and it tells us that it will be better to search for a buy opportunity.
Buy signals can be based on a trend reversal signals and reversal chart patterns. Stop orders must be placed below the local swing low or below 1.140000 support. Risk per trade must be no more than 2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price bounces from 1.140000 support, there is room for the upward movement up to 1.20000 resistance.
RSI is in the oversold zone, and it tells us that it will be better to search for a buy opportunity.
Buy signals can be based on a trend reversal signals and reversal chart patterns. Stop orders must be placed below the local swing low or below 1.140000 support. Risk per trade must be no more than 2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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