ForexWeeklyAnalysis
Short

Short GBP/USD 1.6715 (78.6% fib level) & 1.673X (Trend line)

FX:GBPUSD   British Pound/U.S. Dollar
205 3 2
Two possible levels of interest for potential shorts on GBP/USD:
- 1.6715 was previously rejected during the second week of March and is also the 78.6% fib level
- 1.673X is approximately where price will meet the downward trend line if it's hit today, however, the 'real' level is around 1.674X (refer to Feb/Mar rejection levels).

Consider exiting if price closes above 1.6750.
Target 1: 1.654X
Target 2: 1.646X
Got stopped out at 1.6750....
Reply
butterliesel
2 years ago
will you try another short now?
Reply
ForexWeeklyAnalysis butterliesel
2 years ago
Nope, got stopped out of EUR/USD and USD/CAD, so that means the last batch of trades didn't work out = sign for me to take a short break.
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