Cable (GBP/USD) Great Short Opportunity After the Sudden Surge

Let's look at GBPUSD again. Currently the price is directly at a resistance zone, that seems to get confirmed now by the rejection on the wick and the two very involatile candles directly after. Admittedly, my last trade on GBPUSD where I was bearish already didn't work out at all and got into the stoploss really quickly. Thought, I remain bearish, and the recent surge of GBPUSD gives us an even better risk reward on such a trade.

We can also take the confluence this time of the RSI that just got overbought. Another bearish signal that indicates a possible reversal.

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

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