daytradernik

GBPUSD - Short Opportunity From Daily Bearish Order Block.

Short
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is moving up into the Daily -OB, and I am looking to go short between the 79% retracement level and the Daily -OB Equilibrium at 1.57. This figure also happens to be the 50% (equilibrium) for the 4H -OB. On the back of dovish comments by Harney, suggesting that a hike for the pound is coming no time soon, I believe this will make for a great medium-term short - with my initial profit target set at 1.51, where it will seek to clear out stops from the clean lows that have been set.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.