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YourLazyTrader

GBP/USD potential sell set-up: +310 Pips

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
YourLazyTrader Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdidea
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trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdidea
Dear traders, after the FOMC event yesterday, GBP/USD pulled back from
the highs. If we look at the daily chart, GBP/USD has not managed to break
the resistance level so far.

So, we can continue to look at the price action for a couple of days. In case
price doesn't break the resistance level and we see the formation of bearish
candlesticks in the resistance level, selling GBP/USD@1.2680-1/27 with
SL above resistance and TP at 1.2350 would be a potential sell set-up.


Comment:
Price has broken resistance, do not sell
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