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IvanLabrie
Jan 21, 2023 4:51 PM

$GBPUSD: weekly trend contination Long

British Pound/U.S. DollarFXCM

Description

The Pound has a nice setup in the weekly here, trend turned up a while back as per my prior publication, following a massive extreme inn negative sentiment towards the UK which helped the exchange rate collapse before eventually forming a bullish basing pattern.
Current signal has a decent reward to risk and high probability, so it's a good addition to your portfolio.
Best of luck!

Cheers,

Ivan Labrie.

Trade closed: stop reached


In fact, not only stop was reached, but we also have evidence of a reversal in the dollar brewing.
Comments
JoeChampion
Do you think USD will continue weakening?
IvanLabrie
@JoeChampion, I don't know for sure, I'm just trading signals as they come...my balance is and will be in USD if not in any positions cause it's the global unit of account, '1' for everyone. I don't mind volatility of DXY all that much, since my trades should be able to compensate for any loss of purchasing power over time. That said, it seems the Dollar does get weaker with current data.
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