Pound - bearish pin bar present on the trend


Good afternoon traders! A trading idea for the GBP/USD pair.

An interesting event occurred yesterday via "Stop Hunting" method. During the American session, the pound filled an intermediate area under the round level of 1.24, and made a quick false break downwards in the evening.


Quotes went to the best prices, relative to the general plan of lowering the instrument. Thus, a classic "pin-bar" setup appeared on D1 yesterday, which is an "invader" of liquidity and strengthens the signal to continue the trend:



1. Weekly low at 1.2250.

2. Monthly low at 1.2150.

Short scenario will be canceled at a break of 1.24 down.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com