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sufiansaid

Shorting GBPJPY - Trading Idea

Short
British Pound / Japanese Yen (FX:GBPJPY)  
sufiansaid Updated   
FX:GBPJPY   British Pound / Japanese Yen
Fundamental Analysis brunei malaysia sentiment
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fundamental brunei malaysia sentiment
Rationale to be bearish GBP :

1. Ongoing uncertainty on UK and EU over the brexit divorce bill – (bearish GBP)**major concern for the market

Rationale to be bullish YEN :

1. Risk off sentiment, safe haven
Comment:
Price trading above daily pivot now. I see nothing (news) that suggest Sterling sentiment is bullish apart from the price action I see right now. I still remain on the trading plan. I see it as an opportunity to short GBPJPY at better price
Comment:
There are analysts the market is bullish the sterling following a good news came from Brexit. I shall scratch this trade idea. Technically, price has moved too far from my initial target to short. I will make new plans for GBPJPY.. IF i want to trade this anyway
Order cancelled
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