Price has just formed a shooting star at 1.56006 price level (1 hour chart), which happens to be a strong resistance area from previous sessions. The bears on this trade will be looking to take this pair to the 1.54220 price level where price will hit a rising support and may resume its up trend. This is how I plan to trade.
Entry Point: 1.56044
Stop Loss: 1.56999
Profit Target:1.54220
GBPUSD 1 HOUR CHART
Fellow bears, Good luck.
nice set up wait for nfe to confirmation
i`m not pro but the 1.543 is a mini-support.I think the take profit is way too low,the price might not hit it.But anyways the short will come true.Good luck,keep us informed how the trade was!
From my point of view 1.543 coincides with both 38.2 FIB and rising support, the analysis automatically suggests it as a target, whether it gets hit is dependent on many variables (not in our control). On keeping you informed, I’ll definitely do that regardless of the outcome.
