Interest to interest trade area. GBPUSD trade set up
If we see the market come towards my ideal sell area then we can easily see USDCAD falling into my target area.
A simple trend line analysis trade with my personal confluences to confirm, may see some retests before it hopefully goes short.
Market has reached a high level in the market, looking to see a downfall towards the 1.36 level.
Price is looking to respect the 1.2 level and create a short pull back.
There's a strong possibility of the market coming down, so a very tight SL and big TP in case the market does decide to reverse. Low risk trade, trading only 1% of capital.