TheAlcoveFx
Short

GBP/USD Support/Resistance SHORT

FX:GBPUSD   British Pound / U.S. Dollar
Hey Gang

Here today we have a potential Short on the GBP/USD             the H1 timeframe. We are using the CEPS (Collectivev Entry Points System) to help us get in and hopefully capitalize on the market. The strategy is very simple, We use points to measure the validity of a opportunity, if it reaches enough points, we then can proceed with the other set of rules which determine, how big or small the position sizing is. This will be giving you a brief overview of why i am thinking short. As you can tell the market has been giving us LLLC (Lower low, Lower Closes) for the past 2 weeks indicating to me Bearish (Down). If that market does not produce an entry signal, we will wait until the next level and wait for our entry rules be produced there.

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