Rouding bottom breakout failure could be shorting opportunity in Cable

GBP/USD – 15 minute chart

GBPUSD m15 (02-26-2016 1509)

Call it an inverted head and shoulder or rounding bottom, what is important is whether the current 15-minute candle sees a close below neckline.

That would be a strong sell signal. On 5-min chart, the sell signal is already confirmed and I went in with GBP/USD short.

Here is the trade – Sell GU @ 1.4010 target 1.3960 stop @ 1.4030

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