SHORT FROM HIGHS OR LONG FROM LOWS ??

Hello ...

As No-Deal brexit is practically off the table Over all Bias on GBP is shifting towards Long , but technically we will always have good shorting opportunity too in any pair...

Perfect case would be GBPUSD which is currently trading in Ascending channel pattern ..

Price is currently near channel top & this evening we are awaiting result of motion for brexit extension in British Parliament..

Important would be to watch market reaction after vote , since outcome is obvious that extension would be requested you cannot rule out surprises in British parliament..

Technically speaking if Price remain in Channel Range after vote and GBPUSD is rejected from channel top , then we can SHORT for scalping and buy from Channel Low.
But if price breaks above channel , then LONG only are preferred with Channel Top Line acting as support & Buying area on dips .

PLease let us know what do you think about this analysis..

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