Bearish Chart pattern forming on 4h / 1h timeframe indicating a potential uptrend reversal which could retrace to the 0.382 Fibonacci Level and beyond. This trade idea offers an excellent 5+ Risk to Reward Ratio for the remainder of the week and due to the UK's troubles of tax, political unreasonableness and general economic horror i expect this resistance level once support to allow for big selling opportunity for people trying to reject the recent Bullish pullback on the Pound.
- Note to never risk more than 1-3% of your account on any given trade. - Stop Loss 47 Pips above sell bracket. - Stop Loss is 76 Pips above entry point.