GBPUSD analysis 12/01/2023

– GU has reversed downwards to 1,210 as targeted.

– On the D1 timeframe after touching 1.210 there was a long retraction, however this may only be a price reaction to touching the lower resistance rather than a reversal signal because D1 closed with a very small body.

– On the current H4 timeframe has created a resistance zone around 1.216. Today the market will be sideways around here and in the European session will decide the direction => the probability of further decline to 1.210 is quite high.

Today we will trade the first 2 with the following order:

Command reference:

+Buy 1.218 (Buy when the market breaks the upper barrier)

SL: 1.215

TP: 1,225

+ Sell 1,216

SL 1.218

TP1: 1.213

TP2: 1.211


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