Duchess_of_Forex

GBPUSD SHORTS! 100 PIPS!

Short
OANDA:GBPUSD   British Pound / U.S. Dollar
- GU has reached monthly resistance, it's unlikely to break it without a deep pullback.
- GU has created a double top on the 4-hour and weekly timeframe .
- The DXY has created a double bottom and is showing signs of strength.
- GU hasn't had a weekly pullback in 6 weeks so it's due for a higher timeframe retracement.

I think this is the beginning of a long-term reversal. I predict GU will be bearish for the next few weeks, my bias is sells.

Let me know if you agree or disagree with my analysis in the comments.
Trade active: Please be aware that this is a swing trade opportunity, you might have to hold this trade for 1 or 2 days.

Comments

Really like this! I have something similar, hopefully it goes to plan.
+1 Reply
@jamieegatti Thanks! Good luck for the trading week ahead. Let’s both smash it! 💪🏾
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jamieegatti Duchess_of_Forex
@Duchess_of_Forex, Thanks, and you! This trade is playing out well so far!
Reply
agreed !!! I have similar set up
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