Trading suggestion:
. There is still a possibility of temporary chances to return from the support line(1.21650). if so, traders can set orders based on Price Action and expect to reach short-term targets. In between that retail traders try for short term BUY.
Technical analysis:
. GBPUSD is in downtrend but if it breaks the support then it will continue the trend.
. The price is below the 200 EMA which acts as a dynamic resistance.
SL: Break Above Resistance suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.22908). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. There is still a possibility of temporary chances to return from the support line(1.21650). if so, traders can set orders based on Price Action and expect to reach short-term targets. In between that retail traders try for short term BUY.
Technical analysis:
. GBPUSD is in downtrend but if it breaks the support then it will continue the trend.
. The price is below the 200 EMA which acts as a dynamic resistance.
SL: Break Above Resistance suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.22908). if so, traders can set orders based on Price Action and expect to reach short-term targets.