Now we've again reached the trend channel. Just a simple short setup on GBPUSD because we've peaked on the trend channel and on the month chart, we can see a that it's a ranging market with a strong resistance on the round number 1.32000
This is an update to my previous analysis in AUDUSD. I've notice that we're in a 2nd trend channel and a level of resistance on the previous days. The price is also forming a Head and shoulders pattern, I'll be doing a short trade with a stop loss just above the resistance level.
If it retest on the resistance level where the golden fib level is located I'll probably do a Put option. But if it breaks the resistance there's a possibility of a trend reversal or the end of the bearish trend.. Best thing to do is to wait for the rejection but if it breaks up I'll probably do a call option.
