Although I'm still undecided with whether or not I want to have any GBP cross positions open around the Brexit vote there are still trading ideas to be had.
The 200 day MA is moving in line with the upper downward trend line and with the concern regarding brexit I see no reason for the pair to push higher then that.
A push below 1.40000 would trigger me to consider opening this short with the stop loss around 1.41000 and targeting 1.35800
In summary: GBPUSD Short position
Stop Loss: 1.41000
Open Order: 1.40000
Limit Order: 1.35800
RRR 1:4.28
The 200 day MA is moving in line with the upper downward trend line and with the concern regarding brexit I see no reason for the pair to push higher then that.
A push below 1.40000 would trigger me to consider opening this short with the stop loss around 1.41000 and targeting 1.35800
In summary: GBPUSD Short position
Stop Loss: 1.41000
Open Order: 1.40000
Limit Order: 1.35800
RRR 1:4.28
Comment:
Ooops new to this site so apologies about the (RRR) quote, it was meant to be Risk/Reward ratio!
Order cancelled