GBP/USD sell scenarioGood pips traders!
It's another gorgeous trading week and I'm here again with my view of the market
GU began last week on a bullish note at point X as marked on the chart only to reverse on Friday at key level B, I expect the market to be bearish for at least the first two days of the week before any further moves.
Gushort
GBPUSD ShortGBPUSD has a hurdle right at 1.364.
We are expecting price to retrace to 1.355 before going for the 1.364 level. If price retests this level and it doesn't push through, then we can see price falling to 1.343 for a bit of support before reattempting to break 1.364 level.
Price could also fall to 1.343 without attempting to break 1.364 level.
If price pushes through 1.364, next area of structure is 1.371.
GBPUSD Short for 80+ PipsWhat's up traders! I've been watching and trading GBPUSD this past week with 3 successful trades clearing 150+ pips. We've been trading in a channel and we have once again reached the top of the channel so we will be looking for more shorts for this upcoming week. Here is what I'm currently looking at on the 1H for GU. Looking to see some price action to single the sale on Sunday evening or Monday morning. If we do see enough singles to signal a trade we will take the short for roughly 80 pips. This is not confirmed yet by any means! This is just something I will be looking for to set up.
GBPUSD POSSIBLE PULLBACK SHORT 15 min bearish engulfing gave possible entry at resistance , structure still showing uptrend so well have to wait for confirmation on a lower high to possibly give us the head and shoulder formation to take the sell to a prz , from the prz looking to close and enter a buy