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DRamFX
Apr 27, 2019 8:34 PM

GBPUSD Swing Trade Set Up Short

British Pound/U.S. DollarFXCM

Description

Weekly closed bearish, daily closed as indecision and the 4 hr engulfed the previous candle. I'm expecting a continuation of bearish momentum for GBPUSD next week with the potential to fill the Weekly ranges. To confirm that the sellers are in control, I would wait for a break below 1.29099 on the 4 hr and wait for a retest to continue down. We seem to be in a relatively smooth downtrend. The yellow zones are potential take profit areas.
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