We can enter a 0.5% risk long in GBPUSD to get started and then add in the coming days, and tighten the stop as well. The short term trend has shifted to the upside, and now it's in sync with the daily chart, which shows a potential low is in place, specially confirmed if we don't hit 1.2799 in the next 3 days. Let's see how this evolves.
Good luck,
Ivan Labrie.
Trade closed manually
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Failure to break resistance for now, I'm out but holding NZDCAD and AUDUSD that are acting way better than GBPUSD and GBPCAD.
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Short term double bottom on chart. I'm waiting for one more day after today's daily close to go long GBPUSD.
Trade active
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We can enter now again, stop at 1.2914. 1% risk at market (1.2985)
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(1.2977)*
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Solid progress.
Trade closed manually
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I'm out before the news...will reasess after the close.
Agree - was expecting this pair to head down to major support, but it has shown some signs of bullish movement. Will wait for close of daily candle
IvanLabrie
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If we don't move much lower during the next 2 sessions, sellers will be positioned, and we can anticipate buyers to step in when there's no one left to sell.
For now, no point in jumping in.
If we don't hit the target that I marked as the 'stop' in the original chart in this time, we're good to go.
IvanLabrie
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I like the buy now, I'm taking it here.
hnvel
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Could you update this please?
IvanLabrie
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Hi, I'm not interested in buying the Pound for now, it has acted relatively weak, compared to other currencies.
The short side isn't too appealing either, but we might have a valid trade in cross pairs. I'm watching it.