Short-Term Trading Idea – Short GBP/USD

Short below the uptrend line around 1.2600 for 1.2560 with a stop above 1.2620.

GBP/USD has formed a Double Top chart pattern and has broken below the neckline. The target is at 1.2560. There was also a bearish divergence warning from MACD when price was forming the Double Top chart pattern. Price has also broken below a uptrend line. MACD is moving into the bearish zone and Stochastic is declining. Both momentum indicators are hinting of more price declines ahead.

2 thoughts on “Short-Term Trading Idea – Short GBP/USD

    • Receive FX commentaries and timely alerts on your mobile! Simply add UTRADE FX into your mobile contacts list and WhatsApp text 8636 1600 with your name and account number to enjoy this exclusive service!

Leave a Reply to peter h t seow Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.