UKOUSD 20 Dec 2023 on the daily timeframe. This commodity looks still unable to rise and return to a high price position. It is still ranging between S1 and S2 and now occupies a price position of 79.441 after experiencing a bullish trend in the previous session. If referring to the chart as well as the stochastic indicator, it can be seen that a bearish trend is likely to occur due to overbought which causes this commodity to be in a saturated zone. If bearish is true then go-short could be an option for traders. But on the other hand, if this commodity is able to continue bullish, then go-long is still an option. Learn many indicators before making trading decisions.
