GBPUSD is severely overbought on the smaller time frames, pullback is imminent, however the pullback will be light due to big BOE decision this week that is going to happen.
on the 4h chart, GBPUSD is bullish, so be careful in placing large bets on this. 1.255 is my preferred zone to short to, however I will be watching price action over the next 48 hours to make a decision whether to keep a short on or not 1.271 is my stop loss.
Trade active
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Trade activated 1 hour ago, really liked the short time action, 20 pips from the highs.
Tight stop loss activated.
Comment
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Stop loss moved down to meet the wick of the last 1hour candle, 30 pips secured
Trade closed: target reached
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Target reached my supply zone and trade was closed over 50 pip win here