GBP/USD Short

14 thg 12, 2019

Due to the elections GBP has broken several trends and has risen beyond the norm till it has now found a monthly resistance. Starting tomorrow I expect to see a retracement which if conditions allow may take it down to it's daily trend as shown on the chart in the green parallel lines. Another resson for this is the price rejection at the current level it's at. In order to be extra careful I wouldn't place a trade until I see a clear downward movement in price that will see GBP leave the monthly resistance zone downwards by a good number of pips, ofcource if it were to do this and retrace back up then that could invalidate the anlysis if the retracemnt were to break the monthly resistnce, but this is highly unlikely.