GBPUSD is currently trading in a descending channel. A breakout of this channel will signify a bullish impulse. However, we'll take advantage of the current range. Short at resistance and long at support. SL should be just slightly above resistance and below support.
Comment:
GBPUSD is steadily following the channel. A breakout will signify a bullish impulse. However, We will take a short trade with TP at the bottom of the channel and SL just above the channel breakout.
Trade active:
Alright, it is time to go short once again. Place stop loss just above the channel breakout. TP is 1.343
Trade active:
It's time to go short. GBPUSD has returned to the channel. It would most likely rally to the bottom of the channel in the coming days.
Order cancelled
