GBP/USD STRUCUTRE SHORT|TRADING PLAN

GBP/USD is trading in a horizontal range that is a part of a larger bullish triangle.

The current resistance level, that is presented with the two resistance areas is very strong and is quite likely to cause a bounce down.

On a smaller timeframe we are seeing that the pair is trading along the diagonal upward support line and is currently looking bullish.

TRADING PLAN:

+Wait for the breakout of the diagonal line:
- below the current thick black resistance
-between the two
-below the upper resistance

+Wait for the confirmation
+Short the pullback

A great trade with good risk reward and >50% probability.

What if the breakout happens above the upper resistance?>> setup invalid!

Don't forget your SL. There are two on the chart as an example, due to the fact that it's precise position depends on the exact breakout price level.

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