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benjamintrades
Dec 9, 2019 11:03 PM

Cable Short Position. Short

British Pound/U.S. DollarFXCM

Description

Looking to short this pair as we approach the double top. After waiting on todays close, the daily candle was left with a nice pin bar indicating that a reversal of the trend may occur and a sell off is imminent.

The rsi is currently overbought also adding to the downside bias. I expect some choppy movement around this area as its been heavily used as both support and resistance many a time in the past.

Targets will be just short of 1.3000.
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