GBPUSD: The Key Support and How to Trade
The price stays at the key support zone. We can use reversal signals in the hourly and minutes timeframes for buying. Probably during a new week, we will see an upward movement toward the resistance levels. MACD is bullish and supports an upward movement. RSI is not far from the oversold zone and it is going to confirm the price reversal.
The alternative is a breakout below the support zone. It is possible to use a breakout signal for shorting as well as a reversal from the broken support zone.
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.
The alternative is a breakout below the support zone. It is possible to use a breakout signal for shorting as well as a reversal from the broken support zone.
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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