GBPUSD - Outlook still bearish into next week
Good morning traders,
As always on the weekend it is good to get some pairs lined up ready for the next week.
I posted earlier in the week regarding cable and my outlook is still the same. I did take a short term long position off the retest of structure yesterday, shame it was coming into the end of the week as i would of liked too of held GU to target but we still made 2% on this trade so all is not lost!
As you can see from the chart my overall bias is for price to come up to this structure, form a retest and then get into short positions back down. We can see that the pair is clearly bullish currently so a nice run back down to the channel should play out quite nicely.
As always on the weekend it is good to get some pairs lined up ready for the next week.
I posted earlier in the week regarding cable and my outlook is still the same. I did take a short term long position off the retest of structure yesterday, shame it was coming into the end of the week as i would of liked too of held GU to target but we still made 2% on this trade so all is not lost!
As you can see from the chart my overall bias is for price to come up to this structure, form a retest and then get into short positions back down. We can see that the pair is clearly bullish currently so a nice run back down to the channel should play out quite nicely.