GBP SHORT DROWN?

Tendency: Temporary Downtrend ( Bearish )
Structure: Channel | Supply and Demand
Observation: i. Price action has been trending in an uptrend since Oct 2016 which is clearly represented with the Ascending Channel.
ii. Price hovering close to Supply zone which also coincides with Resistance of Channel inciting a Downtrend expectation.
iii. Supply zone aligns with 618 retracement of Impulse move.
iv. Price accelerating towards our Moving Averages.
Trading plan: SELL opportunity with a minimum potential profit of 1,400 pips.
Risk/Reward: 1/3
Potential Duration: 5 to 15 days

Watch this space or Telegram channel for updates as price action is been monitored.


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