First, let us cover some historical points in GBP/USD's near history. Chart says for itself, wide downtrend channel. The price is moving as it is because of Russian/Ukrainian tension. Because of the recent economic happenings, we don't see the area beneath us holding the price action (blue circle). Take profit areas would be at 1.31 and 1.3. As the current price movement is mainly because of war tensions, monitor the news. Stay safe!
Use this information at your own risk. This analysis is to point out the high probability key points. For day traders, it is crucial to know the bigger picture. Have fun trading!
Use this information at your own risk. This analysis is to point out the high probability key points. For day traders, it is crucial to know the bigger picture. Have fun trading!