Risk Warning: Trading Forex is inherently risky. This is not a
trade alert service and should not be taken as advice to enter or exit a
trade. It is simply a narrative of what Straight Talk Traders are
watching for, which may or may not happen. What is posted here may or
may not develop into legitimate setups on Straight Talk Trading's
Complete Response Trading System's specific entry and exit rules, which
are only accessible by STT clients.
The Trade: GBPUSD hourly setup. Hourly GBPUSD will likely make a reversal divergence by 10 am London at a key resistance level.
Direction: Short
Reason: On the daily chart, price is at a level of either price
continuation of trend or a temporary trend breakdown. For that reason,
it should give a decent intraday trade short. This is currently preferred over EURUSD because amongst the majors, EURUSD is showing relative indecision today.
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