Key levels converge for potential GBPUSD buying opportunity
The GBPUSD has reached the upper edge of the upward price channel, showing rejection from above and overbought conditions on momentum indicators. I expect the price to retest the local resistance at 1.23953, which is also where a rising trendline meets a weekly resistance level and the 23.6% Fibonacci level. I will not challenge the trend and will wait for a buying opportunity from those areas.
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Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
Trade stängt: målet nått
