LeeThompson97

GBP/EUR Short at Channel Resistance

Short
FX_IDC:GBPEUR   British Pound / Euro
We are approaching the top of an upward channel, this key area of resistance is a good area for a sell opportunity. This is supported by divergence, that suggests that the next peak will be lower than the last - which would fall at the top of the trend line . Before placing a trade wait until the candle closes, if the candle closes outside of the trend line the set up is invalid. Finally, this upward trend has a bias to break to the upside, so this opportunity needs to be considered thoroughly.
Trade closed: target reached