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Fading of the bullish trend on the pound dollar


Hello everyone!

Signs of the uptrend fading appeared on the GBP / USD currency pair, so I opened a sell trade at the current price with a small stop of 30 pips. The projected profit can be 100-120 points. It is not difficult to calculate that the profit / loss ratio for this trade exceeds the classic 3 to 1.

I will not paint for a long time, so I will only talk about the key factors that indicate a possible reversal of the pound dollar.

one. The price has moved more than 100 points from the upper boundary of the balance.

2. On the hourly chart, a bearish divergence is formed, and using candlestick analysis, you can easily find a seller gaining short positions or a buyer taking profit on previously opened purchases.

Trade parameters:

  • sell – at the current price;
  • take profit – 1.3960;
  • stop loss – 1.4110.

All good mood and profitable trading! {#magic}

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