GBP/USD Sell trade update: 100 Pips booked; more to go Short

British Pound/U.S. DollarFXCM

Description

⋅ Jun 25, 2020 6:26 AM

GBP/USD retested the broken support zone and as I mentioned in my previous idea, GBP/USD Started dropping after retesting the broken Support area. Currently the sell from the broken support level is running with 100 plus pips profit and I expect the downtrend to continue.

Fresh sellers can enter new sell trades on pullback and ride the next bearish wave till 1.23.

If US Dollar strength continues amid rising geopolitical risks, then I expect GBP/USD to hit 1.21 within the next 2-3 weeks.

Trade active

⋅ Jun 25, 2020 8:54 AM

Looks like the pullback is done.

Comments

indreshbm

⋅ Jun 25, 2020 7:22 AM

Great Idea. I am also Short

KaltoireCapital

⋅ Jun 25, 2020 8:48 AM

@indreshbm, Great job. Let's see what happens now

UnknownUnicorn5170614

⋅ Jun 25, 2020 6:45 AM

Waiting for a bit of retrace before I go in however this is great

KaltoireCapital

⋅ Jun 25, 2020 7:07 AM

@Pip_Sanchez777, Yes, I am already in since Tuesday. Holding some sell positions. Will enter again if it pulls back

rjoshicool

⋅ Jun 25, 2020 6:37 AM

Thanks. I am planning to sell it as it rebounds a bit.

KaltoireCapital

⋅ Jun 25, 2020 7:07 AM

@rjoshicool, Yes that is a good trading plan

Marissakh

⋅ Jun 25, 2020 6:31 AM

Thanks, I agree with this idea. I'm also in short position. Good luck!

KaltoireCapital

⋅ Jun 25, 2020 7:06 AM

@Marissakh, Great, let's make some money!

KaltoireCapital

⋅ Jun 25, 2020 8:55 AM

@Marissakh, When did you enter short ???

Marissakh

⋅ Jun 29, 2020 1:40 AM

@Project_PriceAction, A little bit earlier than your signal. I jumped in too fast. Glad, it's go down as predicted. Waiting for your other signal ;)