The GBPUSD is a no-brainer to sell currently, the U.K economy is a joke and the FED is pushing hikes which are leading up to another suspected bullish rally on the USD.
We are currently working on our plan of attack for this trade. As the price has broken below strong weekly support, in terms of technicals it would make sense for the price to re-test as resistance, however, due to the current state of the U.K and the FED, it appears it is likely enough selling pressure for price to have a clean break and continue bearish.
We will be waiting for today's daily candle to close. We need to see an engulfing bearish candle in order for us to still see this as a valid position. 📉
Our Take Profit is at untouched support since 1985. This is likely to act as a magnet in this case.
*Remember, don’t rush, let price meet YOUR requirements*
Look at my other trading ideas
Comment your opinion below (every comment/question gets answered)
We are currently working on our plan of attack for this trade. As the price has broken below strong weekly support, in terms of technicals it would make sense for the price to re-test as resistance, however, due to the current state of the U.K and the FED, it appears it is likely enough selling pressure for price to have a clean break and continue bearish.
We will be waiting for today's daily candle to close. We need to see an engulfing bearish candle in order for us to still see this as a valid position. 📉
Our Take Profit is at untouched support since 1985. This is likely to act as a magnet in this case.
*Remember, don’t rush, let price meet YOUR requirements*
Look at my other trading ideas
Comment your opinion below (every comment/question gets answered)
