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British Pound / U.S. Dollar
Short

GBPUSD to rise to resistance then fall to support

By rahiljavid
Updated
GBPUSD

After analysis on the pair GBPUSD it can be seen that a reversal will soon occur near the strong resistance at 1.624. This would cause the pair to drop all the way to around the strong support at 1.2280. This move would also complete the head and shoulders pattern forming which can be seen clearly on the 4 hour time frame.

Entry @ 1.25680
SL @ 1.26500
TP1 @ 1.25320
TP2 @ 1.24680
TP3 @ 1.23590
TP4 @ 1.22790
Trade active
Trade has just opened with strong downward momentum
Chart PatternsGBPGBPUSDheadnandshouldersshortsetupTrend AnalysisUSDWave Analysis
rahiljavid

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