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ranadagger

Look to short GBP/USD on a retest of uptrend line or EMA

British Pound / U.S. Dollar (FX:GBPUSD)  
ranadagger  
FX:GBPUSD   British Pound / U.S. Dollar
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This currency pair is in a trading range. It looks ready to return into a trading range again. A double top is in place on the 60 min charts, the sequence of higher highs and higher lows looks in danger with prices going below the support of 1.5400. EMA's are also turning down, waiting for a retrace to 1.5420 levels to short keeping a close SL of 1.5440. The risk reward is favourable.
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