GBPUSD Might be caught by BEARS. Short

British Pound/U.S. DollarFXCM

Description

⋅ Mar 30, 2020 3:15 PM

GU has currently been trapped in bearish channel as illustrated above. On lower timeframe it has broken the falling wedge and currently retraced back as well.
If that bearish channel or lower trendline holds then we can go LONG else wait for the breakout confirmation and go SHORT till 1.16.
Hope it might help you somehow. :)
#STAYHOME_STAYSAFE

Comments

Dave-FX-Hunter

⋅ Mar 31, 2020 12:16 PM

Thanks for your idea.

wickywicks

⋅ Apr 4, 2020 10:21 AM

@DaweFXHunter, You're quite welcome.
Took time,consolidated but has just moved the way we wanted. :)

transparent-fx

⋅ Mar 30, 2020 11:35 PM

I will be monitoring GU as well, my overall TA

wickywicks

⋅ Apr 4, 2020 10:22 AM

@transparent-fx, Thankyou for your analysis :)

SergioMontanoTYMIW

⋅ Mar 30, 2020 3:19 PM

And even if it sneaks up on your its just to take out shorts and you KNOW it will drop like a rock I'm managing risk accordingly and I am also long USD/JPY

wickywicks

⋅ Apr 4, 2020 10:22 AM

@SergioMontanoTYMIW, Yeah moved accordingly.
look at my USDJPY today's analysis as well..