GBP/USD Forecast: Short
Here is an update on GBP/USD
RECAP:
In our previous analysis GBP/USD was trading at 1.38943
We expected a further move to the downside on the pair and this is exactly what happened
The pair hit lows of 1.38300 triggering our Sell Stop at 1.38800 and hitting our TP1 at 1.38600,
We hoped that the pair would hit our 2nd TP at 1.38000 but that did not happen so we closed our trade at 1.38450
So we managed to bank 700 pips over 20 positions on this pair.
WHAT TO EXPECT:
Currently at 1.39100
Which acted as a minor support/resistance for the pair
We expect the pair to reject this upward movement and go back to the 1.38 zone
The pair might still be bullish and try to test resistance at the 1.39500 level
A break above 1.39500 will see the pair reaching new highs of 1.40
We are still bearish on the pair
OUR POSITIONS:
Currently @ 1.39150
Buy Stop @: 1.39300 (please monitor this entry)
Buy Stop TP @: 1.39500
Sell Stop @: 1.38900
Sell Stop TP @: 1.38700
Sell Stop TP2 @: 1.38500
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis GBP/USD was trading at 1.38943
We expected a further move to the downside on the pair and this is exactly what happened
The pair hit lows of 1.38300 triggering our Sell Stop at 1.38800 and hitting our TP1 at 1.38600,
We hoped that the pair would hit our 2nd TP at 1.38000 but that did not happen so we closed our trade at 1.38450
So we managed to bank 700 pips over 20 positions on this pair.
WHAT TO EXPECT:
Currently at 1.39100
Which acted as a minor support/resistance for the pair
We expect the pair to reject this upward movement and go back to the 1.38 zone
The pair might still be bullish and try to test resistance at the 1.39500 level
A break above 1.39500 will see the pair reaching new highs of 1.40
We are still bearish on the pair
OUR POSITIONS:
Currently @ 1.39150
Buy Stop @: 1.39300 (please monitor this entry)
Buy Stop TP @: 1.39500
Sell Stop @: 1.38900
Sell Stop TP @: 1.38700
Sell Stop TP2 @: 1.38500
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
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