GJ is in an up trend. However there has been significant Sterling weakness in the market and there is a nice triple top above this cross.
Chart below:
There is also present divergence between the Oscillating Indicators and Price.
Chart below:
Price has broken down this afternoon and I am looking to enter a short position as detailed below
Levels and Chart below:
Entry: 155.90
Stop Loss: 156.20
Target: 154.40
This position will start with 0.5% risk as its against the trend and I am still looking to take a sterling position in Cable.
I will update again should the trade be triggered.
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