Ready to Start Trading?
Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.
Apply onlineAny Questions?
Contact us:
phone: +1 849 9370815
email: sales@tradersway.com
A double top pattern has formed on GBP/USD’s short term time frame, which means that a possible reversal from the current uptrend could happen.
The pair is still holding steady above the neckline around 1.6175 but a breakdown might confirm that a selloff would happen in the coming days. The pattern is about 120 pips in height so the resulting breakdown might be of the same size.
A short order at the 1.6150 minor psychological support level could be enough to catch the breakdown and yield a good reward to risk ratio if one aims for 100 pips. A stop at the 1.6200 handle above the neckline would mean a 2:1 trade.
By Kate Curtis from Trader's Way
Any Questions?
Email Us: sales@tradersway.com
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
Instrument | Bid | Ask | Spread |
---|
2023 Martin Luther King Holiday Schedule
Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....
Learn more