Short Cable - Short term
GBPUSD broke below the middle median line of the current Modified Schiff pitchfork.
This is usually a continuation signal, in this case we should expect more downside potential.
Looking at price action we see a short term supply zone just above the entry. The target will be placed at the confluence between the 0.5 downward median line and a mid term support at 1.5881.
The Risk Reward ratio of the trade is 2.
This is usually a continuation signal, in this case we should expect more downside potential.
Looking at price action we see a short term supply zone just above the entry. The target will be placed at the confluence between the 0.5 downward median line and a mid term support at 1.5881.
The Risk Reward ratio of the trade is 2.
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