GBP/USD Short
Updated
Fundamentals:-
As posted in the last trade signal we expected the GBP/USD to sell off. Due to Brexit pressures and the US moving further away from a trade war it is likely we could see a further sell off in this currency pair.
Technicals:-
As you can see from the Chart I have put a fibonnaci retracement on the recent downturn which give a 50% pull back at 14150. and 60% at 14173. I will be looking to take another sell trade at around this price.
As posted in the last trade signal we expected the GBP/USD to sell off. Due to Brexit pressures and the US moving further away from a trade war it is likely we could see a further sell off in this currency pair.
Technicals:-
As you can see from the Chart I have put a fibonnaci retracement on the recent downturn which give a 50% pull back at 14150. and 60% at 14173. I will be looking to take another sell trade at around this price.
Trade active
The trade has been triggered and I am now looking to lock in some profit by moving the stop loss to 14105Trade active
I am now looking to lock in some more profit and move the stop loss to 14090Trade closed manually
Price action suggests a period of consolidation and possible reversal so I have taken profit. at 14064
Related publications
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.