TradingView
rauan
Oct 19, 2015 2:05 PM

GBPUSD 1.5470 -> 1.5380 Short

British Pound/U.S. DollarFXCM

Description

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.
Comments
rauan
Should I enter or should I stay?
rauan
GBPUSD is currently testing trendline support.
maglite55
Good job on this. nice and clear on the reasoning.
rauan
thank you for the kind words maglite!
Trader-Mick
Very nice ;)
rauan
thanks! Hopefully it works out profitably!
Trader-Mick
Trader-Mick
I am on the same boat too!
More