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cvfxwealth
Feb 12, 2021 3:05 AM

GBPUSD Sell Signal - Channel Rejection Short

British Pound/U.S. DollarFXCM

Description

GBPUSD has been ranging in this upwards channel since December with a bias to the south side. The top channel has just been hit and rejected price.

We have a broken up trend line on the 4hr and strong bear candlesticks as secondary confirmations. Look to enter at current price area of 1.3785-1.3850 and take profit at the bottom of the channel.

Good luck and let me know if I can help in any way.

Charles V
CVFX Management
Trading made Simple
Jan 2021: 14%
Comments
janprochy27
70% dd now is not good. What is your plan for gbp/usd and gbp/cad? All your actual trades are shorts at gbp, what do you think?
nelsontrader8
I think reversal at the price you suggest and will back down later 1.3888 (hit the resistance). just my opinion!
cvfxwealth
@nelsontrader8, Definitely possible as well! That would be a great sell entry.
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