Marenno
Short

GBPUSD Short term Sell is Possible

FX:GBPUSD   British Pound / U.S. Dollar
Trading Idea (in case of a Triangle break, as ABC pattern failed)

Short Entry

Sell Stop order at 1.5025
Target: 1.4950
Stop Loss: 1.5100

I suggest also use a timing stop loss, in case, if the price will not continue to go down after a level break in 8 hours, jst close the position.

The move is possible, as the price didn't have enough momentum to go up, and In case if the "Big players" will be entering market Long, they will Use a Better Entry, which is 1.5100 at the moment. So it does look quite safe.
Correct me if i'm wrong, current support price = 1.49252
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Marenno rieduan
495 - is broken, at the moment it is a resistance line, the present support line is a monthly support area (as I'm a believer - there is no Lines in the markets, but areas) at 1.4825.
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rieduan Marenno
noted.
Reply
Marenno rieduan
Always welcome
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