There is a current short entry on the GBP/USD. The area I entered in shorting was 1.6228. It went up, took me in, and is currently at 1.6299.

This 1.6300 level is also a very significant level which it hit back in 2009. It is also an area which has met a very long-term downtrend line from 2007.

This can be traded as a longer-term trade. If you’re looking at a stop loss, it would be around 1.6456. (which is around -156 pips from where it is now) If you trade this, ensure that you manage your risk appropriately.

Happy trading!

LattePIPs!