[b]GBP/USD has been rallying to the upside for quite some time .. now it is close to hit a pretty strong area for the price around 1.26200. we need to see a good bearish price action around the 1.26200 area. If we saw that we can enter a sell trade.
we have as you can see two drives to the upside and we are waiting for the 3rd drive to happen when usually the 3rd drive should be the strongest.
you can have a really good risk to reward ratio by putting your SL 50 pips above your entry and target 1.21000. eventually you will get a 1:10.5 risk to reward ratio.[/b]