In the previous trade day, GBPUSD in M15 chart broke down the neckline and test the 23.6% of Fib retracement. It seems a short term rebound will occur and challenge the neckline level. If fail, the GBPUSD will continue the descending trend and finally test 1.21 level.
For the trading strategy, a sell limit can be placeed around 1.23-1.232 with stop loss 1.235-1.238 if the rebound occur, take profit target at 1.215-1.21, Market sell can be also considered if greater loss is affordable.
For the trading strategy, a sell limit can be placeed around 1.23-1.232 with stop loss 1.235-1.238 if the rebound occur, take profit target at 1.215-1.21, Market sell can be also considered if greater loss is affordable.
Trade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.