GBPUSD: Bearish MC, looking for short opportunities

Written by Raul Lopez on January 5, 2010. Posted in Trades & Analysis

The GBPUSD traded in a range for a couple of days near an important long term resistance level, but now, it broke through the short term support level and is in a clear bearish market condition:

GBPUSD

My Trading Plan:

As long as the GBPUSD keeps trading below 1.6076 I will be looking for short trade opportunities.

All short signals will be ignored.

Trade Safe
Raul Lopez

Tags: Forex majors, GBPUSD Analysis, pound analysis

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Raul Lopez

I've been trading the forex market for more than 11 years. All my trades are based on price action. Check out my Forex Coaching program, I can help you develop a system that helps you trade consistently.

Trading should be simple

I like to trade using simple tools such as support and resistance levels, candlesticks, price action and others. If you like simplicity, you'll love my Forex Training. Read more about me.

If you have any question about anything, please feel free to contact me at: info@straightforex.com or call +1 518 300 3828