FX:GBPUSD   British Pound/U.S. Dollar
GBPUSD             looking good for a short down to 1.5000 on the daily, however, I will be awaiting for more conformation from price action around this trendline and 1.5500 level to take any trades. I am expecting a false breakout to the upside first before the move down.

Here we have a Head + Shoulders pattern being fulfilled with the neckline broken, retested and continuation.

I have also highlighted in red the lows of the move upwards, this also marks areas of liquidity where many stop losses will be placed. The first 3 lows (Stops) have already been taken out, the fourth and final low (Stops) now need to be taken. This gives extra confluence for a move down to the monthly support level of 1.5000.

I am short GBPCAD for the day, I expect it to bounce along the recent highs then pull back.
asiansupermarket asiansupermarket
a year ago
GBPCAD bounce off short term top
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out