GBPUSD 4-hourly chart bull is exhausting, bear is taking over. A potential SHORT can be executed with reasonable risk reward ratio.
Reason :
- 4 hourly chart, critical res at 1.3570 area.
- Price rejection at fibs level,
- Possible downside target to 38.2% fibs level @ 1.33 area.
- Reasonable risk reward to short.
- Potential to reach next supp points :
Entry point Long : CMP ; TP : 1.3310 ~ 1.3200 ; SL above previous high @ 1.13580
Risk Reward 1 : 2.22
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- 4 hourly chart, critical res at 1.3570 area.
- Price rejection at fibs level,
- Possible downside target to 38.2% fibs level @ 1.33 area.
- Reasonable risk reward to short.
- Potential to reach next supp points :
Entry point Long : CMP ; TP : 1.3310 ~ 1.3200 ; SL above previous high @ 1.13580
Risk Reward 1 : 2.22
Always remember to trade with stop-loss, market is crazy & cunning*
Trade active:
Currently holding +8opips profits.
1st support of 1.3390 area tested, awaiting another push to lower.
1st support of 1.3390 area tested, awaiting another push to lower.
Trade closed manually:
Closed some position @ 1.3345, secured some bags.
Left some to run til profit.
Left some to run til profit.
Trade closed: target reached:
TP hit with additional +270pips down to 1.3030.