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GBPUSD interesting channel. Short the resistance

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
KLPTrader  
FX:GBPUSD   British Pound / U.S. Dollar
Support and Resistance Wave Analysis Elliott Wave
5
0
supportandresistance waveanalysis elliottwaves
In this chart we can see the following:

  • The pair made a double floor so it is considered initiated a new bullish momentum.
  • We see a lower low (first green arrow).
  • At the end of 3, the pair shows signs of starting a lateral period between the values 1.29833 and 1.27603.
  • The scenario is attractive, between the two values there are 200 pips.

To place the stop loss I'm taking into account a possible fake-out near the resistance so I don't adjust too hard.
To sum up, short the resistance.
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