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

Posted Tuesday, December 8, 2020 by
Arslan Butt • 1 min read

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!

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