_VincentP_
Short

Double top or breakout courtesy of Yellen

FX:GBPUSD   British Pound/U.S. Dollar
GBPUSD             is clearly set up for some nice action later today. Yellen can bring this back down and create a nice double top . Depending on how market reacts to her speech we could see a test of the upper channel and either see a break or a touch and drop. I'm leaning towards the later.

Of course we just had fairly decent GBP figures so if market is relieved with what they hear (dovish speech) GBP might continue it's recovery and head towards levels we haven't see since the Brexit vote. If this happens I would wait for the breakout to settle and enter on correction and retest of broken upper channel.

BUT, my personal bias is bearish .
Trade closed manually: Opened a trade lower than planned because I was too late to the party. But those that did enter on time, congrats. This should continue to fall next week but a correction is possible.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out