FxSaint
Short

GBPUSD - Line Play

FX:GBPUSD   British Pound/U.S. Dollar
If grounds are clear than we can see fall across @GBP soon. Expecting wall to provide resistance to price climbing any further. Two ways to trade this, 1] aggressively by taking trade on touch of upper line or 2] wait for the lower TL break & then enter short. Sustained break above calls for stop out.
Comment: Poweful 35+ pips drop was witnessed on touch down of the wall signifying the importance of that level / line. The GBP news momentarily made spike to upside but IMHO it will not sustain. If price comes back below the line than it will be good short again.
Comment: Also want to let everyone know that I m holding my shorts, but sustained break calls out for stop out. The price has already broken but I m not counting it sustained break since the break was made due to news.... My idea now is to stop trade if the high created by news is taken out with another high.
Trade closed: stop reached: Stoped at -30 pips
Comment: This stop was about GbpJpy & GbpUsd stopped at -45 pips
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