POTENTIAL SHORT ON GBPUSD @1.5818
The strong fall from 1.5818 suggests a move down from the area is possible on the next arrival.
The 30 pip risk in this zone, should it work, gets a reward of about 4:1.
The pair is in an uptrend. But the chart suggests that the end is near.
This is a counter-trend trade for 120 pips before the main trend continues.
Price needs to rally up into the zone in the coming week.
EP: ~1.58180
SL: ~1.58480
TP: ~1.56980
R/R: ~4:1
The 30 pip risk in this zone, should it work, gets a reward of about 4:1.
The pair is in an uptrend. But the chart suggests that the end is near.
This is a counter-trend trade for 120 pips before the main trend continues.
Price needs to rally up into the zone in the coming week.
EP: ~1.58180
SL: ~1.58480
TP: ~1.56980
R/R: ~4:1
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