GBPUSD short.
BXY potential weakness coming this week.
DXY looking like it will gain some strength off the support trendline this week.
However we do see the potential for GBPUSD to break to the upside for one more leg first!
We have entered with our standard "small lot" (0.05 per $1,000 balance), however you may want to consider going half of that.
-55pips SL
+307pips TP
GBPUSD was taken on a H4 chart & we’d give it a 70% probability for success. SL is pretty tight for the setup. We can easily see it moving one more leg up first (tapping our SL), keep all of this in mind. Consider going 0.02per $1K balance or less. You can always add to your position.
BXY potential weakness coming this week.
DXY looking like it will gain some strength off the support trendline this week.
However we do see the potential for GBPUSD to break to the upside for one more leg first!
We have entered with our standard "small lot" (0.05 per $1,000 balance), however you may want to consider going half of that.
-55pips SL
+307pips TP
GBPUSD was taken on a H4 chart & we’d give it a 70% probability for success. SL is pretty tight for the setup. We can easily see it moving one more leg up first (tapping our SL), keep all of this in mind. Consider going 0.02per $1K balance or less. You can always add to your position.