VasilyTrader

GBPUSD: Simple Double Top Trade

Corto
FX:GBPUSD   Libra esterlina/Dólar estadounidense

very interesting situation on GBPUSD .
The pair is coiling around 1.27 structure resistance
and we see a clear rejection of this level.

The pair has just formed a double top pattern,
and there is a high chance of switching the sentiment from bullish to bearish .

Our trigger is the bearish violation of 1.255 structure support level.

If the market breaks below this level we can short the pair
expecting bearish continuation to lower structure levels.
Target levels will be
1.242
1.230

*if the market goes up and closes above the resistance, setup will be invalid!

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