GBPUSD IS LOOKING VERY INTERESTING AND THE SET UP HERE IS QUITE CLEAR!
WE ARE GOING SHORT AT 1.5455 DUE TO THE REJECTION THAT HAPPENED LAST NIGHT AFTER THE FOMC.
THE HIGH OF 1.5480 IS LIKELY TO BE IN PLACE FOR A WHILE AND WE ARE LOOKING FOR LOWER LOWS.
LOOKING AT THE DAILY CHART, THE TREND IS PRETTY BEARISH AND THE MOVE WE HAVE SEEN FOR THE PAST 2 WEEKS IS A DISCOUNTING IN PRICE.
AGAIN WE SHORT THIS PAIR WITH THE EXPECTATION THAT PRICE WILL NOT CLIMB ABOVE THE HIGH OF 1.5480 WHICH IS THE STOP FOR THIS TRADE.
1ST TARGET IS 1.5310, BELOW HERE WE EXPECT PRICE TO DRAG TOWARDS 1.5195.
GL!
WE ARE GOING SHORT AT 1.5455 DUE TO THE REJECTION THAT HAPPENED LAST NIGHT AFTER THE FOMC.
THE HIGH OF 1.5480 IS LIKELY TO BE IN PLACE FOR A WHILE AND WE ARE LOOKING FOR LOWER LOWS.
LOOKING AT THE DAILY CHART, THE TREND IS PRETTY BEARISH AND THE MOVE WE HAVE SEEN FOR THE PAST 2 WEEKS IS A DISCOUNTING IN PRICE.
AGAIN WE SHORT THIS PAIR WITH THE EXPECTATION THAT PRICE WILL NOT CLIMB ABOVE THE HIGH OF 1.5480 WHICH IS THE STOP FOR THIS TRADE.
1ST TARGET IS 1.5310, BELOW HERE WE EXPECT PRICE TO DRAG TOWARDS 1.5195.
GL!