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British Pound/Swedish Krone

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GBPSEK trade ideas

GBPSEK: The short opportunity of the Golden Cross.The pair is trading within a strong long term Channel Up since October 2017 on the 1M (monthly) chart (RSI = 60.289, MACD = 0.143, Highs/Lows = 0.3378). It is currently testing the 12.6000 1W Resistance following a Golden Cross on the 1D chart. This formation has delivered a roughly -4% drop on the past two occurences. Since the RSI topped at 80.000 which is always a sell zone on 1D, we are going short with TP = 12.2000 or once the 1D RSI touches 38.500. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope