At the moment, the bearish sentiment prevails on the GBP/USD currency pair. Near the key offer zone of 1.27600-1.28000, a classic pattern of the Price Action Pin Bar (H4 timeframe) was formed. It is necessary to pay attention to this situation. In the near future, sales may prevail. Confirmations and entry points to the market are better to look on smaller timeframes.
We advise you to consider selling GBP/USD if the price fixes below the local support of 1.27200. The immediate goal for profit taking is 1.26500.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account