GBP to USD:
GBP/USD D1 chart is breaking new lows again. From the indicators, the current price of GBP/USD has entered the oversold territory. So we can place a long order at the lower support level, and then the trend will have a very high possibility of forming a big pullback.
The H1 time line can see that the chart begins to form a divergence pattern. But the divergence pattern has not really formed yet. Using the Fibonacci extension, we can predict that the next new low that the price will test is very likely at 1.272. So we can place a long order at 1.272 below.
Order suggestion:
The long-term high is bearish, and the short-term can do more to catch the callback.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
