GBPUSD - May Restore

#trading_idea #GBPUSD 💡

💸Sterling - Why did the pound drop, and what should we do about it?


The pound has fallen in anticipation of new data on tax cuts and energy subsidies in the UK. We could follow the tried-and-true approach — buy the dip. Here’s what to watch out for.

On the 1-hour chart, the price is trying to rebound from the support 1.288. The MACD points to the possible rise. However Parabolic SAR showing the pressure on the pair. Additionally, the price is still below the 10 and 20 MA.

🔼If the price break up 1.209 we may see further rise to 1.2947.

🔽Alternatively, the price may retest the support 1.288.

What do you think?

😎 Hit "👍" if you believe the price will rise and "👎" if you think it's slide.


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