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GBPUSD 17 Aug 2023

GBPUSD 17 Aug 2023 on the H1 timeframe. It can be seen that the pair is experiencing a bearish trend since the beginning of the day. Although it is still above the kumo cloud on the ichimoku indicator, it is seen that there is a possibility that this pair will continue to fall until it breaks the kumo cloud. If that happens then go-short could be an option for traders. On the other hand, if the pair is able to hold on and reverse the trend as it looks oversold on the stochastic then go-long is an option. Keep an eye on the indications before making a trading decision.

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