I’m Looking for short opportunities on the GBPUSD

Last week I wrote about the GBPUSD trading in a very clear short term range, and I was waiting for it to break either extreme level to start looking for trade opportunities. Well, last Friday it broke the bottom of the range, and this breakout triggered a bearish market condition. And of course, I will be looking for short opportunities on the Pound-dollar. Here is the hourly chart:

I will be looking for short opportunities as long as the GBPUSD trades below 1.5919.

And guess what? The next LT support is at 1.5345, around 500 pips away from where it is currently trading.

Trade Safe!

Raul Lopez
Forex Training

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .