If grounds are clear than we can see fall across @GBP soon. Expecting wall to provide resistance to price climbing any further. Two ways to trade this, 1] aggressively by taking trade on touch of upper line or 2] wait for the lower TL break & then enter short. Sustained break above calls for stop out.
Comment:
Although price didnt touched the line (missed it with 10 pips) the price collapsed for about 70 odd pips, now the complete retracement of that can be attributed to GBP news. I m still holding my short bias & short trade =) Lets see if it falls from here or not. Remember sustained break call out for stop out.
Trade closed: stop reached:
New high is made & I m out of this trade for -45 pips
Comment:
Sorry this stop update was for GBPUSD & not GBPJPY...
