Trade_Setup

The Pound is coming under pressure and setting for a break lower

Short
FX:GBPUSD   British Pound / U.S. Dollar
The GBPUSD is under pressure and may cave in if the Dollar rallies. We are watching now for a break down through 1.2820 off a lower high after previous washouts of resistance and trapping of buyers. If the momentum down continues we are happy to jump in short on a shoulder entry setup. Watching now for a retest and hold for the 1.2850 zone.

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Comments

Yes, 1.29 is a big resistance level. It will fall from there.
Reply
Trade_Setup mamirali550
@mamirali550, The USD moving up is on our side so lets see how sellers go....moving now
Reply
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