GBPUSD Retrace Sell Signal

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is currently in this upwards channel but my bias is still to the downside long-term.

Red thick line: Main up trend line
Red dotted line: 4hr up trend line

Price has tested the backside of the daily up trend line and bounced off nicely. Expecting price to go back towards the 4hr up trend line .

Entry @ 1.3075-1.3100

TP @ 1.3000

After we hit the bottom of the channel we will reevaluate to see how price reacts to this level to continue trading.

Good luck and let me know if there are any questions.

Charles V
CVFX Management
Trading made Simple
Comment: TP hit for 75 pips.


what should our stop loss be?
cvfxwealth gracetmanuel
@gracetmanuel, Safe conservative stop loss should be 20 pips above top channel trend line. Always remember risk management. When I trade a pair it will only be under 1% of account size. A few percentage of gains a week will give you long term growth and safety.
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