bmck1
Short

Potential H1 2618 setting up on Cable

FX_IDC:GBPUSD   British Pound / U.S. Dollar
Overall I'm looking for some relief on this pair given the recent rally. One potential opportunity to get involved on the short side of this pair could be a 2618 trade entry as shown on the chart.

Definitely not the cleanest double top here, but matched with the bearish RSI divergence could be setting up a nice 2618 short. If price can come back up into that 61.8% retracement then I would be looking to sell for multiple targets. Initially, target 1 would be a retest of the break below close below of the double top , but will also be interested in holding the second half of the position even lower towards the 38.2% & 61.8% levels of the recent move to the upside.

Let's see whether or not this plays out over the coming days!
Comment: Entries adjusted as the move after breaking below continued a little further. Will be looking to get involved around the 1.3560 level.
Trade active: Filled with some positive slippage from the Retail Sales news release. Short @ 1.3566
Trade closed: stop reached: Spike up from the Fed meeting stopped us out.
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