GBP/USD trend continuation trade if the TL breaks
Dear traders, in my Friday's GBP/USD analysis, I told you to sell near the 1.30 resistance level.
After that we got a nice 80 pip drop towards 1.29.
(Idea attached below).
Currently, GBPUSD is looking weak and another drop to 1.2770 can not be ruled out.
I am looking at a possible break of the TL support with a bearish impulse that will
serve as my confirmation.
TP will be placed at 1.2770 which was the previous low with SL above the resistance level.
The trade will be executed only if bearish PA develops and all other conditions for a
short entry is satisfied.
After that we got a nice 80 pip drop towards 1.29.
(Idea attached below).
I am looking at a possible break of the TL support with a bearish impulse that will
serve as my confirmation.
TP will be placed at 1.2770 which was the previous low with SL above the resistance level.
The trade will be executed only if bearish PA develops and all other conditions for a
short entry is satisfied.
Trade closed: target reached:
And boom there's the TP. All 4 set-ups hit TP yesterday
