GBP/USD SELL STOP- 10/10/2017
GBP/USD showed a smooth growth on Monday and broke through one of the resistance levels. It is worth noting that the upward movement was on small volume, so it cannot be regarded as a market reversal. In addition, the second resistance level 1.3184 - 1.3204 is still actual. It contains fairly large volume and was tested yesterday. Given the presence of a strong local downtrend, it is necessary to give preference to short positions. Sales can be opened in case of the test of the resistance 1.3184 - 1.3204 and a sharp rebound of the price down on increased volume. A stop loss should be placed a little above the resistance level. The goal is a local minimum. If the price breaks through the resistance level, then it's worth to be out of the market, since there are several large volumetric accumulations at the top of the chart and we can open long positions only after their breakout. TP 50-60 pips.
The bottom line: short positions after a rebound of the price from the resistance.
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