During the last trading session, War Room members were discussing a potential shorting opportunity on the GBPUSD daily charts. After a massive slide down and breaking a key weekly resistance support figure, the market finally found some support and has now retrace back and re-tested the other side of the major weekly support.
The GBPUSD has produced a bearish outside bar at the start of the trading week, which shorts were triggered yesterday, for those looking to enter this trade still you can still catch the re-break of the lows after today’s Asian session retrace.
If price does re-break the Outside Candle low then we can expect to see a move down to the next support level which would be an ideal target for this trade.
The GBPUSD has produced a bearish outside bar at the start of the trading week, which shorts were triggered yesterday, for those looking to enter this trade still you can still catch the re-break of the lows after today’s Asian session retrace.
If price does re-break the Outside Candle low then we can expect to see a move down to the next support level which would be an ideal target for this trade.