GBPUSD SELL - 05/10/2017
GBP/USD - The Pound is also trading in the consolidation right now. We need to point out the presence of large volume accumulation in this local range, so the exit of the price from it will be a great signal for entering the market. Given the local downtrend and the location of the price near the lower boundary of the consolidation, we should give preference to short positions. We can enter the market after a confident breakdown of the lower boundary of the consolidation on increased volume. A stop loss should be placed above the breakdown volume bar. A potential of the deal is 110-120 pips.
The bottom line: short positions after a breakdown of the consolidation.
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