GBP/USD: Appears to Be at Risk
GBP/USD Trade Recommendation
I am initiating a short position on GBP/USD at 1.3350, setting my stop loss at 1.3420 and aiming for a profit target of 1.32.
Although the British pound initially displayed some upward momentum, it is encountering significant resistance around the 1.35 mark. The risk of further declines increases if the price remains below the 50-day EMA. Despite the presence of longer-term support, the overall sentiment remains cautious, and selling on upward retracements is currently preferred.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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