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GBPUSD: Finally broke the support level, shorts in play

As we mentioned in an earlier post, the GBPUSD was getting ready to break either side of the range, and finally today the market broke the short term support level located at 1.6905. Please take a look at the next chart.

GBPUSD

GBPUSD

This breakout puts shorts in play. Remember however that tomorrow we have the most important announcement of them all, the non-farm payrolls report. It could be a mover because many investors and traders are expecting a recovery.

My Trading plan:

Will look for short trading opportunities. Next long term support level is around 1.6552.

All long opportunities will be ignored.

Good luck

Raul Lopez

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Raul Lopez

I've been trading the markets for more than 12 years. All my trades are based on price action. Check out my Coaching program, I can help you develop a system that helps you trade with better results.