British Pound at Major Monthly Resistance Level

FX:GBPUSD   British Pound/U.S. Dollar
With the pound on a rampage the question is, Will anyone stick their neck out for a short? Well I'm going to be watching this pair very closely over the next week. We've run into a major support/resistance level on the monthly chart.

The lower timeframes are still not giving me the signal I need to go short but everyone should be watching this level.
Resistance has been already broken look to buy opportunity only
yes i`m looking for short,
for me the market will move buy this week
(the daily chart is already try 3 times in support/resistance level.)
i hope it flow down like waterfall / down with 25 angle.

is it possible? Jason.

+1 Reply
nice catch.
+1 Reply
Nice idea
Jason_Stapleton PRO Mazen_alhegili
Thank you. I'm sure I'm not the first to point it out. But I thought it was worth a share.
yo.duh.5 Jason_Stapleton
Looks like a 2618 trade is setting up on the 4hr...
My view on GBP : start shorting around 1.7285 until 1.7330 with stops 20 pips above the 50 % retracement which also alines with the Kumo cloud so stops around 1.7350
I took a chance, I am short on GBPUSD, looking to take profit around 1.6696 which is previous resistance. Originally posted cypher on 15 min chart however when I have consolidated monthly chart I have spotted the same Jason and decided to keep that position, lets wait until end of the week and see how weekly candle will close...
+1 Reply
I like it...should be some nice action for many months....Gotta love it when the Monthly's set up...Nice thousand + pip moves
I see a Bearish Head and Shoulders forming it's last leg. Now I understand that it is common for numerous patterns to form during any given time period. I'm new and learning, so I ask, is what I;m seeing correct or are their any criteria that I'm missing?
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