GBPUSD, H4
On the H4, GBPUSD is in a short-term bullish trend. However, the long-term trend is downward, and the price has reached the trend line. The price has reached a significant resistance, complementary to the MA200, so two scenarios are possible.
- If the price overcomes the resistance at 1.2560 and breaks the up trend line, the price may reach 1.2650;
- However, in case of a bounce from the resistance, then GBPUSD will return to the 1.2460 support;
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
