ridethepig | GBP Fast Flows

FX:GBPUSD   British Pound / U.S. Dollar
A very simple trigger for those wanting to cover some shorts from the initial elections entry; the key 1.315x support is holding and pressure has been completely absorbed.

We are trading the bottom of the clearly defined range from the elections; 1.315x <=> 1.355x and markets rather than going overboard on risk will want to keep their cards closer to their chest until 2020. If we do lose 1.315x this will trigger a panic leg and immediately put us into impulsive territory in the macro chart below.

Macro prints today from the UK were better than expectations and will be enough to keep BOE on hold and unlocks another test of 1.35xx. I will continue to use this pivot to position for the long-term flows:

A perfect double top in the making? Smells like it...

Thanks for keeping the support coming with likes, comments and questions. This is for advanced traders only as we are using the short-term range to decrease risk and scale into our position for a long-term trend. As usual with any questions feel free to open below.
Comment: =>
Trade closed: stop reached: 1.315x stops tripped and taken before we could get the technical break. A test of 1.300x looks next and for those following we will need a round of updates for GBP crosses.


Nice analysis as usual.. I missed the sell from 1.35xx so am watching this closely. If this comes true, are we still targeting 1.15?
ridethepig ahmedzahid2799
Yes @ahmedzahid2799 all it will take is a technical break of the red line to carry us back.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out