GBPUSD Bearish Scenario November 6 2018
Looking for sells on GBPUSD via limit order at 1.31250 / 1.31350 with a 30-35 pip stop loss!
Targeting 1.29600 for a 4.5 reward to risk ratio trade idea and I would expect this trade to be completed by early next week
We have the Federal Funds rate occur on Thursday November 8 which could cause bullish movement on the DXY (XXX/USD pairs go down) and there are several factors on the technical side (trendlines/structure/fibonacci/trend/larger timeframes) that act as positive indications that this trade could have a high probability of being a successful outcome.
As always trading involves risk and I am not a financial advisor. Any action you take is at your discretion and I encourage you to practice with a demo account.
Targeting 1.29600 for a 4.5 reward to risk ratio trade idea and I would expect this trade to be completed by early next week
We have the Federal Funds rate occur on Thursday November 8 which could cause bullish movement on the DXY (XXX/USD pairs go down) and there are several factors on the technical side (trendlines/structure/fibonacci/trend/larger timeframes) that act as positive indications that this trade could have a high probability of being a successful outcome.
As always trading involves risk and I am not a financial advisor. Any action you take is at your discretion and I encourage you to practice with a demo account.