GBPUSD Sell opportunityGreetings traders. This is a Pair that does good to many traders. We have seen the price currently touching the major support area . The expected price movement is South in a 1 hour time-frame. Check your 1 Hour time-frame and see the Resistances and Supports drawn in the Chart. Price movement is expected to move south after a rejection or bounce from the local resistance . Another good and attracting setup from this Pair is that the major Resistance = Support area is currently being tested by multiple rejections , this indicates a great tendency for price to break the strong support area , The south direction is also supported due to the fact that , bearish market at the major resistance point ,structures have formed indicating the bulls are losing buying strength and sellers have a great opportunity to gain more ground by breaking the major support . In this setup place your stop loss above minor resistance ,that is if price has managed to go up to minor resistance and simultaneously bounce from that point as well and place your Take Profit at resistance = support . if Price has managed to go below the resistance = support area , place your stop loss above r=s and your take Profit at major support.
on the other hand Price is expected to go above the minor resistance , in other words trade cautiously by waiting for confirmation on every buy or sell entry , so you can be very sure which way your trade may go. God bless you trader , PEACE.
