- GU has been ranging for a few weeks, set your TP within the range. - GU reached monthly resistance and needs a deep pullback before it can break it. - Friday's daily candlestick closed as a hanging man, which is a bearish reversal signal. - GU is currently creating a double top on the 1-hour timeframe. - We need to wait for GU to break 1.41000 (daily support) to confirm long-term bearish momentum.
This is a short intraday move for roughly 70 pips!