GBPUSD
Downtrend as shown in weekly and daily chart.
Price testing blue downtrend resistance line and also tested the 61.8% Fibonacci retracement level, more potential downside ahead. Initiate short when orange support level breaks.
Possible trade:
Entry price: 1.23956
Stop Loss: 1.25000
TP 1: 1.22268
TP 2: 1.21181
Cheers!
Kommentera:
Price hits the orange support and triggered short order as stated, let's see how things progress from here.
Kommentera:
Price hit stop loss level due to fluctuations influenced by US election.