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ChilhoodTraders

GBPUSD Trend Analysis - Buy or Sell

Short
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
ChilhoodTraders  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Trend Lines Support and Resistance pounddollar GBPUSD trendtrading dowtheory shortsetup longsetup
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trendanalysis trendline supportandresistance pounddollar gbpusd trendtrading dowtheory shortsetup longsetup
Pound was making lower highs and lower lows. Previously GBP rejected from the Resistance x3 times and continue pushing down.

Scenarios:

1- Retest the recent Resistance and continue pushing down towards the zone. Also break the zone the form the next lower low to respect the trend.

2- Buying above the top Resistance or Reversal in Trend.

Note:
Trade according to the scenarios, risk management, account size, and always take entries on Confirmations.
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