Hello Price Action Traders.
The forex pair has retraced back to the upside in the last two days of the open market after last Wednesday, which price showed in the daily chart a clear false bullish break. As long as the price remains below 1.3600 I expect a continuation of the down move started on October 28. If price will break up the 1.3600 the next resistance level is the 1.3650. Personally, I am short on the pair now.
The forex pair is in a clear trading range on the daily chart.
As seen in my article a few days ago (link:http://www.hereforexinsider.com/forex-strategies-gpusd-on-support/) the price has rebounded after the false bearish break and now straining upward and attracted by the magnet area at 1.6200/1.6250.
The interesting thing may be to wait for short trading signals on this high band of laterality which is also a major key resistance zone so can offer some short opportunities.
It’s all for today
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