Sophia Todorova is the host of the live trading room for the London session. She has a background in teaching and psychology, and as such relishes the idea of assisting new traders on their journey to Forex trading success. Technical Analysis is her passion. The charts speak, and she listens. To Trade Live with Sophia Join Winners Edge Trading Premium Services.
This is my trading plan for Gbpusd. As usual, it is based entirely on technical analysis without consideration to fundamentals. On the weekly chart posted here, you can see that last week’s candle closed well above the trendline. As the market often does, the latest down move was, in my opinion, an attempt to retest the inside of that line. Currently I have a small long position at 1.4922, which I entered during the London trading room session, around the same area where the market is supported by the 4hr up trendline. I have additional orders at 1.4850, and 1.4800 to add to my position because I believe it is a possibility for those areas to get tested. My target for profit is 1.5350, as is indicated by the green horizontal line on the chart below. I will be scaling out of my position in thirds, should it work out.
If you are interested in trading this with me, it is a good idea to follow me on twitter, since I am able to give quick updates there, and you will be able to get them instantly.
When trading always use a stop loss and calculate the proper risk management for your account. This analysis aims at providing assistance to the forex trading community here at Winners Edge Trading, thereby helping them to make informed trading decisions.
Thanks for reading, and I wish you successful trading 
Refer to my last post to see what you should be targeting on usdjpy in both longs and shorts: http://www.winnersedgetrading.com/technical-analysis-trade-setup-on-usdjpy/
Other useful blogs:
Forex Crunch: Forex in Banks- Essential for Bringing Forex to the Masses
The GeekKnows- Daily commentary on eurusd
One other free trading tool I recommend is Currensee . It can be a useful tool to be able to see how other professional traders are doing.