The GBP/USD pair on the M30 timeframe displays a potential selling opportunity due to a well-defined bearish channel pattern.
Sell Entry: Consider entering a short position around the current price of 1.2580, positioned close to the channel resistance. This offers an entry point near a potential reversal zone.
Target Levels: Initial bearish targets lie at the support levels of 1.2501 and 1.2453, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the broken channel resistance line at 1.2615. This helps limit potential losses if the trend unexpectedly reverses.
Thank you.
Sell Entry: Consider entering a short position around the current price of 1.2580, positioned close to the channel resistance. This offers an entry point near a potential reversal zone.
Target Levels: Initial bearish targets lie at the support levels of 1.2501 and 1.2453, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the broken channel resistance line at 1.2615. This helps limit potential losses if the trend unexpectedly reverses.
Thank you.
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