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Zeahl_Capital

$GBPUSD Short Trade

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
Zeahl_Capital Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Parallel Channel gbpusdshort shortsetup GBPUSD DXY dxylong
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trendanalysis chartpattern parallelchannel gbpusdshort shortsetup gbpusd dxy dxylong
snapshot

Similar to the USDJPY trade I'm taking a position based on two things, price is at channel resistance whilst DXY is at support. Granted, DXY hasn't necessarily been performing well in the past couple of months but I believe we have found a bottom.

I think we see a DXY rally which will negatively effect other currencies vs the USD base.

Trade closed: stop reached:
snapshot

GBPUSD:
Stopped out of this. DXY is trading like it's the new global reserve toilet paper.

Will look to see how price reacts on a retest of that channel breakout before entering new positions.
Comment:
Retested the channel breakout and claimed successfully. Trade invalidated.

snapshot
Comment:
Watching this closely as price once again trades near the upper channel R/S
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