JohnFortune

GbpUsd - Short Despite Range

Short
FX:GBPUSD   British Pound / U.S. Dollar
The GBPUSD continued to range last week failing to sell of from the equilibrium point of the range around the 1.31550 area. Expecting the higher probability of the breakout to be to the downside (the same way price entered the range) a re-test of the range top next week at 1.32696 will provide a great place to look for Bearish formations for short back to the equilibrium point and potentially down towards the targets of 1.30342 and 1.29799 in the coming weeks.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.