Fxprotrader
Long

GBPUSD Time To Go Up, But First A Short Term Sell Setup

FX:GBPUSD   British Pound/U.S. Dollar
4 months ago
We would come to a point that this massive drop in GBPUSD             would come to end. Price is moving into a falling wedge pattern with MACD bullish divergence showing this down move is losing it's momentum . So what we should wait is for price to break above the pattern, watch for a buy setup and go long.

But first we could take a short term sell trade into the wedge. Price after a small impulsive move to the down has been into a correction, and a breakout below it will signal us going short.

Have an nice trading week, all..!
4 months ago
Comment: Price broke below the corrective structure. We may now watch for sell setups
Website: www.fxproblogger.com/
Mentoring: www.fxproblogger.com/mentoring-program/
Twitter: www.twitter.com/fxproblogger
Facebook: www.facebook.com/fxproblogger/
mustard
4 months ago
With all the current political uncertainty, lack of government direction, poor economic figures and Brexit turmoil, I would not be surprised to see an all-time low for the £ in the coming weeks.
Reply
mustard mustard
4 months ago
Thursday's bank rate decision could flip this current move.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out