Get started
MEX_Exchange

GBPUSD testing major resistance, prepare to sell

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
MEX_Exchange Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade Forex forextrading
175
28
trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade forex forextrading
Sell below 1.3319. Stop loss at 1.3427. Take profit at 1.3161.
Reason for the trading strategy (technically):
Price has started to react strongly off major resistance at 1.3319 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong drop below this level to push price down to at least 1.3161 support (Fibonacci retracement, Fibonacci extension).
Stochastic (89,3,1) is seeing strong resistance below 99% and is turning down nicely signalling that a reversal is in action.
Trade closed: target reached:
once again... PIPS IN OUR POCKETS! WHOO!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.