GBPUSD Sellers Dominate but Opportunities Await Buyers
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GBPUSD Sellers Dominate but Opportunities Await Buyers

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Azeez Mustapha

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Market Analysis – September 26

GBPUSD sellers dominate as of now, but opportunities are awaiting buyers soon. GBPUSD finds itself under the firm grip of sellers, with buying strength suppressed. The week commenced with a strong bearish presence, successfully crossing the pivotal 1.22900 key level. However, it’s essential to note that in the world of trading, trends can change rapidly. Sellers may lose steam, offering a potential entry point for buyers looking to re-enter the market.

GBPUSD Price Levels

Resistance Levels: 1.31400, 1.27800
Support Levels: 1.25300, 1.20200
GBPUSD Sellers Dominate but Opportunities Await Buyers

GBPUSD Long-Term Trend: Bearish

An essential indicator in this analysis is the Relative Strength Index (RSI), which provides valuable insights. Currently, the RSI suggests that sellers may soon ease their pressure. This signals the possibility of price retracement, which traders seeking sell opportunities should closely monitor. As the RSI responds, it may present opportunities for strategic entries and exits.

On the daily chart, the Price Volume Trend is decelerating. While sell traders currently dominate GBPUSD, this indicator hints at a potential shift in market dynamics. For the bulls to regain control, they must maintain their momentum and seek opportunities to overtake the sellers. The breach of further key levels becomes a possibility if the sellers persist.

GBPUSD Sellers Dominate but Opportunities Await Buyers

GBPUSD Short-Term Trend: Bearish

On the 4-hour chart, it’s noticeable that sell traders continue to command the price action. However, traders should exercise caution as the RSI appears oversold. An oversold RSI often precedes a potential pullback or reversal in price. This presents traders with a chance to assess their positions and consider potential entry or exit strategies.

 

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