Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Have a brief look at my last analysis for GBPUSD here:
I mentioned that trendline in the daily timeframe and worked good.
Now there is another opportunity as the pair is exactly around the 61.8 fibo, have a look at it here:
But it’s not just this and price is retesting the previous four hour trendline now:
So wait for a bearish H4 candle to close below 1.6021 and go short there with stop above 1.6060.
1.5985 and 1.5900 would be our profit targets.
In the other hand, when that trendline is broken then I will look for long setups there.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Winner’s Edge Trading, as seen on: