GBP/USD:
GBP/USD D1 chart closed higher yesterday at 1.15220. It is now clearly visible that the price is seriously oversold. Although the price has a chance to hit a new low, at the current stage, the price will undergo a large wave of correction first.
The downtrend line of the H1 chart has been successfully broken and hit a new high, but the price is currently overbought. It is visually estimated that the price of the H1 chart will form a small correction first and then continue to rise.
Order suggestion:
Short-term waiting for the callback to do more. In the long-term, Fibonacci backtesting can be used to find entry points to short.
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.
