GBPUSD clean short
hey traders!
Here we have a clean short setup on the GBPUSD pair. Price has touched previous resistance for a third time and will be looking for a move south.
Price is also in the 61.8% fib retracement area.
As you can see my 10MA has passed my 20MA signal which is a strong sign of a reversal.
Price has already made a sell off move on my RSI indicator and has bounced off 70% over bought signal.
Be weary as price has bounced off this resistance area before, I would only enter a trade after price has moved below previous low.
first TP level: 1.2250 where there is some clear structure, price could bounce a little.
Second TP level: 1.2000 where there is also some clear structure and hopefully continue south as we're in an overall downtrend.
Good luck!
Here we have a clean short setup on the GBPUSD pair. Price has touched previous resistance for a third time and will be looking for a move south.
Price is also in the 61.8% fib retracement area.
As you can see my 10MA has passed my 20MA signal which is a strong sign of a reversal.
Price has already made a sell off move on my RSI indicator and has bounced off 70% over bought signal.
Be weary as price has bounced off this resistance area before, I would only enter a trade after price has moved below previous low.
first TP level: 1.2250 where there is some clear structure, price could bounce a little.
Second TP level: 1.2000 where there is also some clear structure and hopefully continue south as we're in an overall downtrend.
Good luck!
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.