ðĄ GBPUSD: Analysis May 8
GBPUSD turned down in price, confirming the previous false breakout signal, so you can see that the short-term trend of this currency pair is decreasing so you can sell.
The nearest resistance area is the supply area and also the previous peak and bottom area around 1.2530. You can wait for the price to return to this area and then look for a signal to sell later. Currently, there is no price recovery but the downward momentum is still strong, so please wait patiently.
The nearest resistance area is the supply area and also the previous peak and bottom area around 1.2530. You can wait for the price to return to this area and then look for a signal to sell later. Currently, there is no price recovery but the downward momentum is still strong, so please wait patiently.
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