We just shorted GBPUSD as there are pretty good indications to sell. Details below.
Rhe RR is decent here and GBPUSD could be gearing for a bearish push.
On the RSI front, the 4H and the 1H figures indicate good selling chances. But we dont really care about RSI, until its at a KEY DC LEVEL (as is now)
Price action is at a key DC level, with only one more major level (resistance) being near price action, but the fact that the channel is heading right to this level, and we are at the top of it, is what really SCEAMS = SELL!
As for the profit target, we are targeting the 50% of the range
Rhe RR is decent here and GBPUSD could be gearing for a bearish push.
On the RSI front, the 4H and the 1H figures indicate good selling chances. But we dont really care about RSI, until its at a KEY DC LEVEL (as is now)
Price action is at a key DC level, with only one more major level (resistance) being near price action, but the fact that the channel is heading right to this level, and we are at the top of it, is what really SCEAMS = SELL!
As for the profit target, we are targeting the 50% of the range