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MylesHV90
Nov 20, 2016 11:26 AM

Short GBP/USD Short

British Pound/U.S. DollarFXCM

Description

GBP/USD - main drop down retraced back to the 0.50 FIB and is descending again. Double top at the 0.382 FIB of main move down.
Resistance at 1.24250 - short taken.

Previous support at 1.23629 now seems to have formed as resistance on the 2hr.

Take profit - 1.22860 (0.50 FIB)
Stop Loss - 1.25052 (just above previous double top levels)

Comment

Take profit not reached - actually closed early in profit.

Potential sell again at resistance were double top previously formed...
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