GBPUSD, H4
On the H4, GBPUSD, in a long-term bullish trend, formed an upward channel, but the price broke the trend line and fell toward an important support area. The momentum indicator fell below the 100.0 line, which could be the beginning of a bearish trend when falling below the support area.
- GBPUSD sell could be considered on a breakdown below the support 1.2690 with a target of 1.2650;
- If the price falls below 1.2650, the second target will be 1.2600;
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
