Short it every time it touches the top of the descending channel (Marked out with a red Question Mark)
Similar thing happened last time. Every pink arrow shows a short opportunity. Each time it dropped, it was 160pips plus! We could be having a similar move again this time.
Green Arrow shows high value area to go long. Again, NOT TO BE MISSED!
If you draw a fibbonaci from 0 to A, the -0.27 lines up with where wave C will start. Coincidence?
On lower timeframe, it'll be clear when to short. A nice little pattern is forming and on the break of that - short! Targeting 1700 pips.
DXY could potentially reverse very soon which will give GBPUSD a significant drop. Also, if Brexit deals get delayed - GBP will drop.
Will watch how price reacts to the top of the channel and then short based on price action. Everything is pointing towards GBP weakness...
Was having a look at GBPJPY and there were SO many opportunities which required very small stop losses and made perfect sense.
1. Double bottom, Long to previous top = 900 pips
2. Descending channel, Long to previous top = 390 pips (break out strategy or you could go for double bottom within the channel)
3. Previous highs acting as support. Long to recent high...