GBPUSD - SHORT - Broke trend line + Head & Shoulders + W
GBPUSD - There are more strategies that are indicating that we should be looking for SHORT on GBPUSD. Firstly on Daily chart there is W strategy which we should be looking for. Second point is that we broke a trend line and there is also Head & Shoulders which is also indicating bearish environment.
At the moment we will be monitoring market and actually waiting for a retracement at least to 38,2% of Fibonacci which should be at 1.22200 which is also a strong area that used to be support line and now should turn into the resistance line. From there we will be looking for a SHORT with two Take Profit levels.
Stay tuned if you would like to know more, how we will take this trade.
At the moment we will be monitoring market and actually waiting for a retracement at least to 38,2% of Fibonacci which should be at 1.22200 which is also a strong area that used to be support line and now should turn into the resistance line. From there we will be looking for a SHORT with two Take Profit levels.
Stay tuned if you would like to know more, how we will take this trade.