GBPUSD - Intraday - We look to Sell a break of 1.2200 (stop at 1.2245) Price action has posted a bearish inside day and is negative for short-term sentiment. Traded to the highest level in 2 weeks. Little net movement overnight. A break of the short-term upward trending support at 1.2200 should encourage selling. With our medium term bias looking to fade gains and the short term bias indicating buying interest we are faced with mixed signals. This has resulted in mixed signals and we prefer to trade a break. Our profit targets will be 1.2110 and 1.2075
How long do you think it will take to break down past the 1.2200
Signal_Centre
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@marcojardim01, Hi mate, its difficult to say on the timing front but after yesterday's rejection there is good bearish momentum to challenge the level as early as today in my opinion
marcojardim01
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@Signal_Centre, yh I see where you're coming from. Should test resistance within next 6/8 hours. After that down we go. Net longs in the majority in theory should play in our favour.