One of the main Forex pairs that I have on my radar for the week ahead is the GBPUSD. This pair was at a decision point heading into Friday’s Job Day & as a result of the pro-dollar move we officially have confirmation of a bearish simple pattern formation called the Double Top .

Despite the Double Top formation being a bearish signal, i do have my concerns about the overall price point in which it completed. Therefore I’ll be looking for a break of it’s lows & confirmation that we indeed have a legit bearish move. If this were to happen, it would open up about 500 pips of potential selling opportunities down to the level where I would expect buyers to be interested once more.

Needless to say this opportunity is one that is heavy on my radar as both a swing trader & a day trader.

For more details on this potential trading opportunity. Please watch the video below

Akil Stokes

“Win or lose tonight, my hometown of Philadelphia, PA will most likey be torn apart after tonight’s Superbowl”

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