HughGRection
Short

Tight wedge taking shape for upcoming event risk

FX:GBPUSD   British Pound / U.S. Dollar
209 views
2
The GBPUSD is coiling up into a wedge that may be broken by the upcoming CPI release(9:30 GMT Tuesday), or it will more likely be able to hold off until the budget presentation(12:30 GMT Wednesday).

I will be short on this one because:
- Long term heavily negative UK fundamentals
- It will most likely be capped by an approximately one month trend line
- Divergence/downward trend line on the RSI

1st goal gives at least a 3:1 risk/reward ratio. 2nd goal is 5:1.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out