Short $GBPUSD as Data nears
GBPUSD has retraced only at the 38.2% fibonacci ahead of the upcoming 530pm (Singapore time) on average earnings release. The gap down coming from previous 1.5350 is indicative that this retracement is merely a chance to short GBP in favor of the dollar which has still room to run.
Stoploss place at 1.5250
Preferred entry - 1.5200 (on any data related spike)
Take profit - 1.5050/1.5026 or recent low.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.