GBPUSD On Long term trend line resistance.
Updated
The GBPUSD pair has been soaring on the last couple of days. But it has come to a key trend line resistance on the weekly chart. A close below the trend line would indicate to me the bulls are out of steam. Go to down to a lower time frame for an entry, and watch for the overbought signal on the RSI.
Note
Hope this trade made everyone some profit. Made almost 250 pips so far, I have covered 2/3 of my position and moved stop to break even.
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.