Double bottom (roughly) formed on 15-min GBPUSD chart
- Good opportunity to make a quick short-term long trade on the GBP/USD here with a double bottom (more or less) formed on the 15-min chart
- If all goes to plan, then the price could deflect entirely off the $1.286 - $1.285 support levels (thick double red horizontal lines), and send the pair beyond $1.29 (green horizontal resistance line) to reach the next resistance level of 1.295 (light blue horizontal line).
- On reaching $1.295, price action could then again be bearish, going back to $1.29 hence falling in line with the descending triangle pattern on the 1-hour chart (see my posts).
**Note that I am not responsible for your trading decisions. It is solely your responsibility to make your own decisions ;)
- If all goes to plan, then the price could deflect entirely off the $1.286 - $1.285 support levels (thick double red horizontal lines), and send the pair beyond $1.29 (green horizontal resistance line) to reach the next resistance level of 1.295 (light blue horizontal line).
- On reaching $1.295, price action could then again be bearish, going back to $1.29 hence falling in line with the descending triangle pattern on the 1-hour chart (see my posts).
**Note that I am not responsible for your trading decisions. It is solely your responsibility to make your own decisions ;)