themarketzone
Short

Possible False Break in $GBPUSD

FX:GBPUSD   British Pound/U.S. Dollar
37 4 2
Possible stop loss hunting action in $GBPUSD with that spike above 1.717 (top of resistance zone). Looking for a close below 1.715 for confirmation.
1.71 can be initial target level

Structure base trade idea
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Tomer J,
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isomorph
2 years ago
already shorted from the high to 38.2% fib retrace. any statement in future indicating the BOE is going to wait well into 2015 before raising rates will trigger a short pullback to 7000 or 6950 levels.
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mendemc1 isomorph
2 years ago
And the job data tomorrow? Can we have a surprise again?
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themarketzone PRO mendemc1
2 years ago
Of course we can. Anything can happen and the Cable shown some serious strength recently. I don't think economic data will have a strong impact, but use risk management rules prior to major events. The technical setup presents very nice R/R here
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isomorph themarketzone
2 years ago
agreed but it looks like all the rate hike/strength of UK economy is already priced in. personally, i'm on the lookout for short triggers as long opportunities beyond 7200 might be limited until the next cycle of market moving news.
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