Remember to set appropriate stops and use 1% risk. We are in a Daily/Weekly bearish zone on this pair with clear retracements from 1.3800. Nice short entries can be found between 1.3650 and 1.3570 and take profits at 1.3300.
this is great thanks! I got in at 1.3570 SL 1.3606, Im trying to firgure out how you got 1.3300 as TP?
Trade_Giant
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@Mazdak33, The reason is because both GBPUSD and GBPCHF are correlated and I am expecting further downside momentum from both pairs. With the DXY rising, dollar pairs will gain lots of strength. If you are short term you could have exit for a nice 30 pip profit but I tend to hold for bigger gains.