GBPUSD - Get ready for possible swing short entry!
I tried to mark all nevessary info on the charts.
Basically Cable is struggling in a range 1,7100 - 1,7170. That makes a lot of noise on 1 Hr chart.
Sooner or later this 1,7094 support will be attacked again, and looking at daily chart it has a high chance that either the next break or the one after will be succesful. Actually the later it happens, the stronger and quicker the move is going to be.
If you were long, I think it is pretty much time to get out. If you wanna play the bearish side, then now you can set up your Stop Sell orders, or at least a price alert below 1,71.
Since I also like to play options, I've bought 1 Month Put @ 1,7100. I also set up my first Stop Sell order as marked on the 4 Hrs time frame.
For you in Europe (or more on the East) hv a nice evening, for you staying in America have a great day and good luck!
Basically Cable is struggling in a range 1,7100 - 1,7170. That makes a lot of noise on 1 Hr chart.
Sooner or later this 1,7094 support will be attacked again, and looking at daily chart it has a high chance that either the next break or the one after will be succesful. Actually the later it happens, the stronger and quicker the move is going to be.
If you were long, I think it is pretty much time to get out. If you wanna play the bearish side, then now you can set up your Stop Sell orders, or at least a price alert below 1,71.
Since I also like to play options, I've bought 1 Month Put @ 1,7100. I also set up my first Stop Sell order as marked on the 4 Hrs time frame.
For you in Europe (or more on the East) hv a nice evening, for you staying in America have a great day and good luck!
