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GBPUSD SHORT LONDON SESSION OPEN

📉 GBPUSD SELL 📉

💰Take Profit 1 - 1.2860
💰Take Profit 2 - 1.2810
💰Take Profit 3 - 1.2760
❌ Stop loss - 1.3040

here is my analysis of GBPUSD:

The GBPUSD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 1.2940, and a sell entry point of 1.2940 is just above the recent low of 1.2920.

There are a few reasons why GBPUSD could continue to fall in the near term. First, the GBP is generally seen as a safe haven currency, and it has been weakening against the USD in recent weeks as concerns about the UK economy have grown. Second, the Bank of England is expected to raise interest rates more slowly than the US Federal Reserve, which could weaken the GBP against the USD. Finally, the USD has been supported by the recent decline in risk appetite.

However, there are also some risks to consider before entering a trade on GBPUSD. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for the UK and the US is uncertain, which could impact the price of GBPUSD.

Overall, I think GBPUSD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.

Here are some additional factors that you may want to consider before entering a trade on GBPUSD:

The economic outlook for the UK and the US.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.