GU Might face a strong Resistance from the level marked on the Chart as DXY took a plunge but reaching a crucial Support to the 94.00 key Level. Might wait to see a good price action. Trade Safe, Don't Over risk!
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FX:GBPUSD
SELL GU @ D-Leg.
Wait for CRS confirmation first then only enter the trade.
entry @ 1.2745
SL @ 1.2810 (65 pips)
TP @ 1. 2580 (165 pips)
TRADE AT YOUR OWN RISK
GBPUSD
- At the end of last week GU traded to lows of 1.32 on the brexit vote, before retracing substantially to 1.39 by the end of the day.
- GU retraced 600-700pips after the brexit event IMO solely as investors took profit from their shorts (which causes buying) - thus there was no structural reason for GU recovering e.g. it was that 1.32 had mispriced GU...
My FX portfolio currently consists of :
- 2Long x USDJPY @ 106.8; 2Short x GBPJPY @ 151.2 (dynamic hedge for long UJ); 2Short x GBPUSD @ 1.4570. I will add to my short GBPUSD holdings if i can get a similar price & I may add to short GBPCHF or EURCHF downside if markets make a turn for the worst as IMO CHF denominations are under-priced relatively (as discussed...
Unknown quantity just repriced GBPUSD right into my sell limit zone of 1.45-1.465 (see attached article).
Im recommending getting on the cheap risk NOW as FOMC and BREXIT REF can only price GU lower in the coming days/weeks - get it now whilst its cheap!
IMO there are 2 things it could have been 1. Algo/ flash buying 2. Some asia-lead Brexit poll that came back...
This is just my take on GBPUSD - None of my indications nor chat are guaranteed, if you can relate to it? then trade it and wink me later :)
Don't forget to set your SL accordingly
Have fun trading.
Cheers
![GBPUSD: [Short Opportunity] GBPUSD is going to reach SELL area](https://s3.tradingview.com/4/4E2ebnxe_mid.png "[Short Opportunity] GBPUSD is going to reach SELL area")
