GBP/USD: short position at the resistance level(h4)
The situation on the h4 chart looks like this:
sellers broke through an important support level on impulse. This, in turn, may indicate a change in trend. The best selling point in this case is at the price return to the resistance level.
Stop loss should be placed behind the impulse bar.
Take profit looks achievable at 38% Fibo level.
sellers broke through an important support level on impulse. This, in turn, may indicate a change in trend. The best selling point in this case is at the price return to the resistance level.
Stop loss should be placed behind the impulse bar.
Take profit looks achievable at 38% Fibo level.