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lasglowfx
Dec 11, 2019 10:33 AM

GBPUSD DOWNSIDE Short

British Pound/U.S. DollarFXCM

Description

GBPUSD
Good morning traders and aren’t we spoilt for choice. It’s been a while since we’ve been in this situation. I want to get straight into it and with recent news suggesting that the UK election is tighter then expected we now have a fresh signal of sellers in the market. The chart presented is a 4H TF and we can see that we’ve pushed up “for no reason” we then had my favorite rejection formation on the Daily TF of 2X shooting star formations (Double confirmation) . This tells me that sentiment is shifting and we can prepare ourselves for a fresh round of sellers and more uncertainty coming out of the UK. Where to will we drop, intraday targets suggest 1.30000 proving for a 160pip trade. A further confluence to note is the Head & Shoulders play.
Manage risk always!
Cheers
Comments
transparent-fx
I agree I want to see a push down as well
lasglowfx
@transparent-fx, We will get that push
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