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TkCha

GBPUSD Short Opportunity - Watch for break out

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
TkCha Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators
2
0
trendanalysis chartpattern indicator
Watch for break out to the downside. Price seemed to form a rising wedge in the 4HR and 1HR Chart. 4HR MACD has just crossed down while Stochastic and RSI moving down from overbought and is also showing divergence on both 4HR and 1HR chart of Stoch and RSI. I believe placing stop just above rising wedge trend line and aim for 1.36000
Trade closed: stop reached:
Stopped out. Will be keeping an eye on this pair for more confirmation.
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