GBPUSD

I identified downtrend channel on GBPUSD with a few confirmations - we broke important resistance level and also fundamentals play along - weak CPI data from yesterday. It is a good idea to enter short trades on the upper bound of the mentioned channel.

resistance level @1.30515

fundaments - weak data from Britain:
July 18th - Great Britain
Core Consumer Price Index (YoY) June
Consumer Price Index (YoY) June

I have short trades open right now.

Trade closed: stop reached:

so, this trade did not end up well. But we can say our SL @1.31000 was well set and by using proper risk management the damage was controlled.