SamKent

GBP/USD shorting alternatives

Short
FX:GBPUSD   British Pound / U.S. Dollar
3
The GBP/USD 4H chart is trading within a triangular type pattern. Price is currently trading at the upper trend-line in an overall down market. Therefore, as we see things, there are basically 2 alternatives to short this market:
1. short now at trend-line resistance, with a stop just above previous swing highs
2. short the pattern breakout to the downside, aiming to trade with momentum

While both options are certainly reasonable and carry some merit , we currently favor the 2nd and more conservative alternative.