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Short

GBPUSD Short Opportunity

FX:GBPUSD   British Pound/U.S. Dollar
58 0 0
We have a potential short opportunity on the 4hr GBPUSD             chart.

Reasons for entry:
- Price hitting trendline
- Price finding resistance at previous support
- RSI Overbought
- Bearish candlestick patterns

Exit Strategy
- Stop around 1.5511
- Target 1.5352
- 3R Trade

Things to consider:
The USD is showing quite a lot of weakness across the pairs, so there is a good chance that this pair will continue higher. We might also find a fake breakout, so if our first trade gets stopped out, let's be on the lookout for a second short opportunity (providing it doesn't close significantly above the trendline.

Let me know what you think. For more see fxcoach.tv
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