GBPUSD 1.5470 -> 1.5380

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD             on Monday tested descending trendline that connects max levels of 25.Aug and 18.Sep, 1.5818 and 1.5658.
As displayed on 4-hour timeframe, GBPUSD             static resistance is set at 1.5494, local high of 14.Oct which has been tested 4 times since that time.
Bounce from 1.5495 and close below trendline projection 1.5470 gives opportunity to sell GBPUSD             targeting 1.5375.
Should I enter or should I stay?
GBPUSD is currently testing trendline support.
Good job on this. nice and clear on the reasoning.
rauan PRO maglite55
thank you for the kind words maglite!
Very nice ;)
rauan PRO morshedul.sazid
thanks! Hopefully it works out profitably!
+1 Reply
+1 Reply
morshedul.sazid morshedul.sazid
I am on the same boat too!
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