FX:GBPUSD   British Pound / U.S. Dollar
585 9 6
Long term trend: Up
Medium term trend: Down
Significant Levels: 1.5100 (Horizontal Support), 1.5420 (Horizontal Resistance), 1.5000 (Significant Round Number), 1.5320 (Price Gap), Downtrend Line

We found two downtrend lines on this chart. Currently, the price is near one of them. We could see the price move lower today, as the price reached the outer downtrend line that we found. And also, it seems that the price gap that occurred on 5th of January was recognized by the market, making it a resistance on the chart.

We are still bearish on this market. It is worth noting that the 1.5000 significant round number is a pretty solid area. The last time the price went this low was on July 2013. And after that, the price went up to 1.7000. But again, we are still bearish here for now.

Trade well.
Yesterday, Bank of England's tone was mildly hawkish that made the price rally. Their Central Bank is not interested in the inflation rate right now, but on the inflation rate in 2 years time. This means that they will increase interest rate, gradually, even if the inflation rate is low right now. We'll see in a few weeks what the market sentiment will be. We should start to see the GBP to be a bullish market. Take note that I'm talking about GBP here and not the pair GBPUSD. US Dollar is strong right now, so preferably, buying GBP against weak currencies such as AUD and JPY could be a good opportunity. Trade well.
I am shorting from 1.53700.Let's see how it goes
danndc Don_Corleone
TP and SL?

are you aiming for 1.50?
I've opened a 2 trade mate at 1.54080,when it went up even more.My target is around 1.52900
than it is already been hit cause today's high is 15387
I already saw it. I moved the SL to 1.5460.
do you think it could still go to 1.50 from here and not up?
what is your TP and SL?
TP is 1.5000 and SL is 1.5380.
You are right. I entered this trade short and I expect to go to 1.5000. Here I have the TP. I entered at 1.5280. After taking the TP, we'll see what happen.
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