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GPBUSD 120 Minute Analysis

Tuesday, October 25, 2016 3:21
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Screen Shot 2016-10-25 at 17.01.47

Hello traders good to be back with you today. I am looking at the GBPUSD 120 minute chart. Wellas you all know this pair has been bearish for a long time and Brexit just made it more bearish. So as traders what are we going to with this, I am looking to short this at a resistance level with confluence for conformation. Well there has been very little price action for the last several days and look because the market is stalling for the US election to be over in two weeks. Today I went out to a longer term chart and we can see this has been in a range for a long time. I want to buy this at resistance at the price level of 1.2290. I would like to take profit at the support zone at the price level of 1.2110. Traders will this happen today I do not think so as we will watch until we have an alert.

Thank you tarders and we will talk soon….William

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