GBPUSD : Shorting chance in Resistance zone with Fib Ratio !
Updated
GBPUSD is very bullish for last few sessions and shorting it would sound like crazy idea. But with proper trade plan & defined risk you can short GBPUSD. I expect the price to reach the marked resistance zone and we have previous swings Golden Fib Ratio 61.8% in our resistance zone 1.3150's which adds up more confirmation, check RSI overbought condition if you need additional validation to go short. Enter short positions in GBPUSD only after valid bearish confirmation in the zone.
We have an awesome Risk:Reward setup here, approx. 1:3, so keep this under watch and if aligns with your tradeplan Let's short GBPUSD.
We have an awesome Risk:Reward setup here, approx. 1:3, so keep this under watch and if aligns with your tradeplan Let's short GBPUSD.
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