GBPUSD is trading around the 1.365 area with major rejections to the upside. GU is very over bought and hanging by a thread i dont think its long before it starts to decline. there has been multiple wicks from the 1.365 along side fundamental analyses GU is running out of bullish momentum. if the price decides to come back into the 1.365 area i will be moving my stop loss to 25 pips and adding another position.
price literally done a liquidity grab and then tanked 75 pips to the downside. always remember the technicals could be pointing one way but until you know why the market is doing what its doing, thatll be the difference between pointless losing trades and potential big trades. in this case gbp was well overpriced and the technicals were pointing bearish. Always check the fundamental and sentimentals of the market because thats what makes a pair move.... trading is just emotions and the ones who win are those who can control their emotions and capitalise on others.
romailfx
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Price is back at entry point if the 1H closes as it is right now that would be a very bearish engulfing candle giving me even more conformations to continue down
romailfx
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Rejection of the 1.3675 Monday will be quite as it’s a holiday in the US but on Tuesday there will be a lot more volatility
initialjie
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bear trap, buy now
nagaHHunter
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it's buy
romailfx
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@tiamoa7, price is in a risingwedge giving me the impression that itll drop. with uk still in a fuel crisis and the dollar strength still present this area should hold out as strong resistance