GBP/USD
Time frame: H4
Technical analysis: The chart shows that the price is moving in a downward direction, with the tendency for this movement to continue. Currently, the price is at the first resistance at 23.6% of Fibonacci, and if it breaks through this level, it will try to make a correction to the next potential sales level at 50 EMA, SMA, 38.2% Fibonacci and the average of the Bollinger Bands (trend indicator). Upon reaching these levels, we can position ourselves with "sell" orders.
Indicators: For the moment, the price is below 50 and 200 EMA and SMA, and they play a role of strong resistance.
The price is in the Bollinger Bands descending channel and the average of the indicator playing a role of strong resistance .
DeM - Over-sold values that support the scenario with the correction to the resistances .
Aggressive entry into a deal: Sell Limit at 1.3065 with stop at level 1.3100
Conservative entry into a deal: Once the price has corrected to the aforementioned resistances and formed a price action formation to signal that the correction is over.
SL: 1.3100
Alternative Scenario: If the price can break through all possible resistances, then it will continue its upward movement to test the previous highs around level 1.3130.
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