Good Morning Traders!
Today we have a very nice opportunity to short GBP. As we see on the chart we have parallel trend-lines which work as a magnet. What I look is the price to break the support and fall down. There are 2 opportunities to go short: 1. if the price goes to Red Zone we go short- which is a very nice area to sell with the best R/R. 2. if price doesnt go to this reversal zone, we wait the breakout and then sell. Our targets will be the next support level @ 2.1132 area, with the confluence of fibs 1.272.
P.S Keep an eye on todays GBP news, as it will impact on the movement of the GBP market.
Today we have a very nice opportunity to short GBP. As we see on the chart we have parallel trend-lines which work as a magnet. What I look is the price to break the support and fall down. There are 2 opportunities to go short: 1. if the price goes to Red Zone we go short- which is a very nice area to sell with the best R/R. 2. if price doesnt go to this reversal zone, we wait the breakout and then sell. Our targets will be the next support level @ 2.1132 area, with the confluence of fibs 1.272.
P.S Keep an eye on todays GBP news, as it will impact on the movement of the GBP market.
