The GBP/USD pair made record lows, last seen in June 2017, and there are no clear signs to an end of the downtrend. The daily channel full of almost steep declines has found price hovering onto the lower limit throughout the week. The cable broke two of the monthly support lines and for sure is headed to the third one (1.2511). Our aim is to make some profit from the price moving towards the upper limit of the channel and open new shorts once that happened.
Long, entry 1.2680 - 1.2790, TP1: 1.2801, TP2: 1.2920, TP3: 1.3000
Short, entry 1.2920 - 1.3000, TP 1.2524
Long, entry 1.2680 - 1.2790, TP1: 1.2801, TP2: 1.2920, TP3: 1.3000
Short, entry 1.2920 - 1.3000, TP 1.2524
Comment:
Opened Buy Order at 1.2741
Trade active:
Opened Buy Order at 1.2741. I will open one more if the price moves significantly lower.
Trade active:
The price moved to 1.2843. TP1 reached.
Trade active:
The price might be going down Today. I look forward to shorting the pair. TP1: 1.2749
Trade active:
The price spiked to 1.2889 which is 21 pips away from TP2.
Trade active:
The price moved to 1.2930. TP2 reached.
Trade active:
The price reached WR2 at 1.3044, it is time to short the pair.
Trade closed manually:
The price made a breakout of the channel.
