Hello fellow traders,
Our GBPUSD setup discussed on 4 Dec 16 has been executed and the pair has shed more than 200 pips from the level of confluence of resistance. A close below the trend line is required to see previous low of 1.19198
DAILY CHART
4 HOUR CHART
I expect the pair to reach 1.2520 before it finds the support and some profit taking may happen there which may result in rising up to touch the horizontal line again where we may witness a big sell off again. Well, this is just a speculation. Let us see what happens.
Any suggestions about the setup are welcome.
Happy trading to all.
Our GBPUSD setup discussed on 4 Dec 16 has been executed and the pair has shed more than 200 pips from the level of confluence of resistance. A close below the trend line is required to see previous low of 1.19198
DAILY CHART
4 HOUR CHART
I expect the pair to reach 1.2520 before it finds the support and some profit taking may happen there which may result in rising up to touch the horizontal line again where we may witness a big sell off again. Well, this is just a speculation. Let us see what happens.
Any suggestions about the setup are welcome.
Happy trading to all.
