charts247
Short

SHORT CABLE TOP!

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
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!
Patience is the key in trading. GBPUSD sell breaking lower!
Reply
Our stop is looking safe and we will continue to hold the short in cable.
Reply
The stop of this trade has been moved to break even 1.5455 due to the failure to break yesterday intraday structure. price might probably take out the high of 1.5480 before any further decission.
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