GBPUSD CONSOLIDATION - 03/10/2017
GBP/USD
The Pound also fell down and broke down the previous local consolidation. Despite the confident downward move, which is a good bearish signal, volume on the market is low, so we can't highlight any new volume level or zone. It makes trading the Pound more difficult as there is no a good place for a stop loss.That's why we need to wait for the appearance of large volume on the market and a creation of a new volume level, that can be used in trading as a reliable place for a stop loss.While volume on the market is low, we should skip this currency pair from our trading plan.
The bottom line: short positions are in priority
The Pound also fell down and broke down the previous local consolidation. Despite the confident downward move, which is a good bearish signal, volume on the market is low, so we can't highlight any new volume level or zone. It makes trading the Pound more difficult as there is no a good place for a stop loss.That's why we need to wait for the appearance of large volume on the market and a creation of a new volume level, that can be used in trading as a reliable place for a stop loss.While volume on the market is low, we should skip this currency pair from our trading plan.
The bottom line: short positions are in priority
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