GBP/USD: Price Action signal for short


Date: 25 November, 2016

H4 Graph: Short Trend

The price is making a new third lower high and this is forming at Fibo level of 50% from the prevouis move short. The price remains below the horizontal resistance of 1,25110 after a retest and now the price is testing the diagonal resistance. We expect the price to remain witin the bearish price channel and continue short.

Price Action: Doji bar at horizontal and diagonal resistance – Possible signal for short.


Alternative scenario: if the price continue to go higher and passes over the high of the doji bar and horizontal resistance of 1,25100, this will cancel the bearish view.

Technical Indicator:

DEM (14) – In the middle of the range

Price for Entry short around: 1,24550

SL: 1.25200

Jr. Trader – S. Fuchedzhiev

 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance