Looking to sell GBPUSD from sell area, wait for reversal to enter. If price breaks target 1 area with momentum then hold until target 2 otherwise close at first target, (30-60pips). Good luck traders!
We saw o huge bullish move last friday getting passed the 100pips mark. We are now waiting to see some retracement with the price correcting to its down trend. Our main target is 0.618 fibonacci lvl. After running +20pips we will modify our SL to breakeven and lets hope to see our final 100pips target hit.
A break of sideways consolidation may open up a shorting opportunity for this trade. Harmonic Patterns Trader can look for Bearish Pattern to engage the trade, structure traders could wait for retest of resistance to engage the trade.
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currently pulling back. lets anticipate a further downward continuation
GBPUSD broke out on 1hr. Watch and wait for consolidation outside for short setup down to the trendline.
Short continuation idea. pending sell stop set at 1.27950 5 pips below recent lows on the 4hr TF Initial target is recent structure lows 1:1 risk and then a 2nd target at the 1.27 inversion of the pull back on the Daily Tf which falls in line will lower structure.
Gbpusd - daily chart - Short setup - I see further downside for this pair due to past weeks candle closure.. I am selling this pair down to 1.2960 where i see a good buying opportunity.
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short GBPUSD @ 1.2995 for a target below horizontal support. Cable has a lot of downside potential and if the dollar gets cracking then it would be easy to see 1.29.
Very critical resistance here. Also cable has not been as strong as the euro. MPC meeting coming up and it will provide us with a clear direction. As of now its a low risk high reward setup