FX_IDC:GBPUSD   British Pound / U.S. Dollar
Pattern: Inverse Head and Shoulders on 4H, Channel Down on 1H.

Signal: Bearish as the price was rejected on the top of the neckline and the 1H Channel Down is pricing a new Lower High.

Target: 1.2640.
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Comments

Short term Sell therefore Long term Buy

I have Buy trades that I open last week Monday.
+1 Reply
TradingShot Forex_Pipbully
@Forex_Pipbully, Assuming 1.2770 breaks.
Reply
There is a bit of pressure to the upside on the weekly, might have a possible reversal to the upside.
+1 Reply
TradingShot AnisonsFX
@AnisonsFX, Yes can't argue with that. That is why I chose the short near the Resistance. To limit the risk in case of a bullish reversal.
+1 Reply
very good catch
+1 Reply
TradingShot AidanMDang
@AidanMDang, Thank you Aidan but ideally I prefer to hear that once it hits its target!
Reply
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