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Rayyan_2805

Possible BIG Short Incoming for GBPUSD

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
Rayyan_2805 Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators GBPUSD gbpusdshort gbpusdsignal gbpusdtrade gbpusdanalysis gbpusd_forecast gbpusdidea gbpusdsell signals
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trendanalysis chartpattern indicator gbpusd gbpusdshort gbpusdsignal gbpusdtrade gbpusdanalysis gbpusd_forecast gbpusdidea gbpusdsell signals
Possible short position incoming for GBPUSD. Price is currently moving within a very accurate parallel trend line channel and has recently hit the resistance zone of this channel, indicating that the price will be moving lower. The price has also been acting below both the 200 and 50 EMA further indicating a short bias. This is tied in with the fact that the price has recently hit a local resistance line marked by the yellow horizontal line on the chart, this also add into the short theory. I have set up a trade with a reasonably placed stop loss of just under 60 pips, to account for any unusual movement and I have added in a take profit of around 230 pips, giving us a good RISK : REWARD ratio of about 4/1. Keep an eye out for updates as I will be following this pair closely. GBPUSD
Comment:
** 60 PIPS IN PROFIT **
Comment:
** 160 PIPS IN PROFIT **
Comment:
** TAKE PROFIT HIT **
Trade closed: target reached
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