Technician
Short

GBPUSD: Could be the time to short

FX:GBPUSD   British Pound/U.S. Dollar
1050 34 6
Update: Closed my short at 1.6500
Profit(pips)= +75x2 = +150
Accumulated profit(pips) = +2452


Expectations for a close interest rate hike was dampened today as BOE Head carney signaled no need for a rate hike anytime soon in an interview during the world economic forum. Meanwhile, the recent decline in inflation figures as i mentioned in my previous post supports the idea of unfolding of long positions and a correctional move. Price also fails to settle above 1.6500 mark on a weekly closing basis.



Trade number: 67
Accumulated profit/loss (pips) = 2472

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Pre-trade stats:
Number of trades:67
Winners: 34 Losers: 22 Cancelled: 10
Profit/loss (in pips) = 2472
Open trades: none Pending trades: 2
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is moved to breakeven
4. Second unit at second target
5. If 90 percent of first target is reached without triggering entry, trade is cancelled
We are finally LIVE https://thefxchannel.com
and... first target hit :|
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I am taking a rest for the upcoming few days, mind feels exhausted with ideas :)
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I closed my short position for now for 75 pips profit.
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Great chart analysis. I do think that gbpusd will try and test 1.67 before heading down. Here is my trade on GBPUSD. I did post a trade idea on GBPUSD yesterday. Check it out
snapshot
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JesusDiaz JesusDiaz
GBPUSD FOMC PLAY
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JesusDiaz JesusDiaz
I posted this last week.
A short on the GBPUSD

I also see a pattern setting up for a long and ride all the way into that level. I will post a chart up soon
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ill be watching
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haha, the ideas exchange are great. yes of coz we r trying to short it ^^. Coz m still learning the way u analyse through the chart. N it comes to me pretty clear n accurate. Thanks
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Good luck
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So GBP/USD still going down?
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