GBP/USD Breaking Below Narrow Range – A Quick Sell Trade! 

The GBP/USD pair traded sideways between the narrow range of 1.3365 - 1.3325, and a breakout of this range can trigger sharp selling until..


The GBP/USD pair traded sideways within the narrow range of 1.3365 to 1.3325, and a breakout of this range could trigger sharp selling until 1.3265. On the 4-hour timeframe, we can see that a bearish engulfing candle has formed, which typically drives selling trends in the market.

The GBP/USD price is holding below the 50 EMA, which suggests a downward trend. The 50 periods EMA are also supporting a selling bias, while the Sterling is still trying to close a candle below 1.3330. If this happens, we may see a continuation of a selling trend in Sterling. Stay tuned to the FX Leaders Forex Trading signal page for more updates. Good luck!

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers