Idea: GBPUSD 0.04% has shown weakness off the 4hr RSI over bought . There is continued weakness off the Daily and Weekly time frames. A long retest on 1.30267 is likely before a stronger downward move.
Trade Management: A price break down through 1.2820 in the next session will eliminate the move long and signal stronger than expected downward pressure. A break long over 1.3090 will prove stronger sterling strength with movement expectation into the daily over bought .
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Trade Management: A price break down through 1.2820 in the next session will eliminate the move long and signal stronger than expected downward pressure. A break long over 1.3090 will prove stronger sterling strength with movement expectation into the daily over bought .
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.