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YourLazyTrader

GBPUSD daily candle showing Bullish exhaustion, potential drop

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
YourLazyTrader Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdtrade gbpusdsignal gbpusdanalysis gbpusdidea gbpusdsetup
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trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdtrade gbpusdsignal gbpusdanalysis gbpusdidea gbpusdsetup
The last daily candle in GBPUSD shows indecision among the sellers and buyers in the market.
So, this week, we might see a the sellers dominate the market.
The daily candle gives us a potential sell trade with very good risk/reward.
I would be looking to sell GBPUSD@1.3040-1.3050 with SL above 1.3070.
I will target 1.2990, 1.2940 and 1.2880 as possible take profit areas.
Comment:
Although I didn't take this trade, this set-up was very good and price is already 40 pips down from my planned sell level

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