Trend continuation GBPUSD for the week of 21 Mar
I have 11 pairs on my watchlist for next week, but I like a short on GBPUSD the most. Price action is very clean, mostly moving between major support and resistance areas. This pair has been bearish for a month now, although it did make a significant pullback last week. Overall it is below the 200dma and my bias is very much bearish.
A short entry at 1.3200 will give us a reasonable stop loss with an initial target at 1.300. This would be a 2.5R trade with a potential for even more.
Bear in mind the Russia/Ukraine crisis and the possibility of sudden spikes in case of any major events in that arena.
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A short entry at 1.3200 will give us a reasonable stop loss with an initial target at 1.300. This would be a 2.5R trade with a potential for even more.
Bear in mind the Russia/Ukraine crisis and the possibility of sudden spikes in case of any major events in that arena.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management in all your trades.
Trade closed: stop reached:
Stopped out :(