GBPUSD 60m . . . A JPY order gives it a boost for the day !!

Since yesterday's boost, I've updated my trend lines and all looks well. I'm still in the SHORT camp but all currencies and DXY are at perceived extremes (until there is a new perception perhaps), so I expect there to be some fighting between BULLS and BEARS. The charts still give a SHORT bias but GBPUSD is at an inflection point either going to break from the trend line or not. If your SHORTING like me, then RR is easy and favourable with STOPS just above yesterdays H and target below firstly at the 100 SMA (Blue line)and then at the 50% retrace which coincides with the 5D AvDaRa of 130 points taken from todays H & L . . . (one side will move don't forget if and as we get a HH or LL). PRICE is sitting at around the 200 hourly SMA (green Line) and this will give some SUPPORT with the 38.2% FIB . . . 10/20SMA are also still in positive mode. Break it down to the 30m and 5m will give you a far better view if it's going to break on an intraday basis and you want to enter either side but you know your risk and targets. Above there is RESISTANCE at 1.2550 (look to the left)

Comment:

14.45GMT . . . picture perfect from a PRICE break of the 100SMA on the 5m chart and 80 points the bag. Out here at the 30m 100/200SMA as they are clustering together and I'm not too sure PRICE will make it to the 5D AvDaRa boundary with the SUPPORT that they might give. Hey ho . . . trading is about profit not greed.