yutrader07
Short

GBPUSD On Long term trend line resistance.

OANDA:GBPUSD   British Pound / U.S. Dollar
The GBPUSD pair has been soaring on the last couple of days. But it has come to a key trend line resistance on the weekly chart. A close below the trend line would indicate to me the bulls are out of steam. Go to down to a lower time frame for an entry, and watch for the overbought signal on the RSI .

Oct 02
Comment: Hope this trade made everyone some profit. Made almost 250 pips so far, I have covered 2/3 of my position and moved stop to break even.

Comments

if short, eur/usd must also go short
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yutrader07 GregoryCee
@GregoryCee, That isn't necessarily the case most of the time, This idea was based purely on technical analysis for this pair.
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