GBPUSD - Market in a downtrend - Resistance & Resistance Channel
Hi Traders!
The market is in a downtrend.
As you can see the market is respecting a "Resistance Channel".
Everytime it gets inside this area, it falls back again.
After the market was very down, it moved up again towards this area.
We expect the market to move down further.
In addition, the Stochastic is overbought too.
We recommend to sell this market with a risk-to-reward ratio of 1 to 3!
Thanks and good luck :)!
The market is in a downtrend.
As you can see the market is respecting a "Resistance Channel".
Everytime it gets inside this area, it falls back again.
After the market was very down, it moved up again towards this area.
We expect the market to move down further.
In addition, the Stochastic is overbought too.
We recommend to sell this market with a risk-to-reward ratio of 1 to 3!
Thanks and good luck :)!
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