GBPUSD: Structure Claims SHORT !

FX:GBPUSD   British Pound / U.S. Dollar
On FX:GBPUSD             , there is a strong downtrend. The price makes Higher Low and Lower Low (See blue lines). Go 4H bars if you want to see a bigger picture. The price finished its impulsive leg and doing the correction. That is the case when the trend is our friend and we can follow it. Thus, the perfect entry should be found when the correction completes and new impulse leg will be formed.
The reversal point and opportunity to go short is 1.4355 level.
1. There is a resistance level at 1.4355. It was acted as a support but after the breakout, it became the resistance. Price respected those levels few times and it is expected it will do again.
2. The trendline - dynamic resistance (orange line) exactly hits that reversal zone.
3. Fibonacci retracement 50%.
Trading Books Online -
Top 10 Forex Broker:

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out