GBP/USD short - Double top + trend based
Double top on the daily view of USD/GBP as well as the long wicks and the rejection of the short term based trend line indicate a shift in the trend into a bear market, more information on higher timeframes, weekly and monthly, showing a bear candle so far this month. This shift in the trend is further shown by an MA crossover.
I am taking a 1:2 short @ the 1.28 level with my SL above the Hourly trendline which will then hopefully be moved to entry and then the Monthly level of 1.275 if broken.
I am taking a 1:2 short @ the 1.28 level with my SL above the Hourly trendline which will then hopefully be moved to entry and then the Monthly level of 1.275 if broken.
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