Trade77, 22nd Nov. 7am

Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

Today’s morning technical idea is for GBPUSD.

Cable retested again it’s four hour trendline and formed another bearish engulfing candle, but it’s very close to the beneath trendline #2. I like it to break line #2 and then I will short it again to reach the daily trendline.

Looking for around 1.5890 would be a good profit target for this short setup.
In case bouncing around line #2 we can go long but take a small slice because sentiment is bearish as I said in the COT Report yesterday.

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Great Thanks

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