GBPUSD - Short Setup - Maybe BOE is the trigger - Price Action

FX:GBPUSD   British Pound / U.S. Dollar
" Chance favors the prepared mind" - Louis Pasteur

We are up over 1000 pips on GBPUSD this year and I hope everyone has been enjoying what I call Stress Free Trading.

Price Action is King!!

I am looking at a short setup on GU for the Bank Of England meeting 2mrw, I have a small aggressive entry from yesterday but my terminal is littered with limits at and just above 1.3250.

Remember risk management and protect your capital, we have had a great time on this pair but we don't want to give away our earnings on one day, I plan to expose only 2% of my capital.

Enjoy the rest of the week. P.S I have closed the previous buys and I recommend that everyone takes a bit off the market and enjoy the fruits of their hardwork.

Comment: Trade got activated. Apologies for late comment
Comment: +450 pips
Hi - just noticed you left a comment on Jack Pro's chart. You're chart is pretty amazing and very focused. Great stuff and looking forward to your new analysis.

Thanks for sharing and all the bests
Mutondi hungbui
@hungbui, Thank you for the kind words
Followed you on this one after seeing your analysis on Tall Toms page. Fantastic call. Great track record with this pair too. I'm still in and have moved my SL to be in the money. I have my first target at 1.2942, which I think is pretty aggressive but I was comfortable with it seeing DXY looking bullish lately and thinking this pair was overvalued in currently political climate. Can I ask about your targets or if you have closed?

Cheers and thanks for sharing!
Mutondi FiberStage
@FiberStage, Hi there. Thanks for the kind words. I Took some of the positions out at +200 pips. I'm letting the rest ride , your target is actually a solid target but I would love it lower. atleast 200 more but I have to manage expectations also the reactions to economic data will show if thats still possible or will I need to reanalyze atleast for the time being. Another observation is that 1.2940 could hold and I might close everything there and get on a buy program it all depends on the approach & reaction to that level. I will post another chart if I see this happening. I also agree that fundamentally the pound is just too expensive at the moment
I have SL, and lost money hixhix

Mutondi dungambee
@dungambee, You will get it next time friend :)
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