VukmanManic
Short

GBPUSD SHORT SHORT

FX:GBPUSD   British Pound / U.S. Dollar
72 3 1
STRONG BEARISH DIVERGENCE both on Daily and Weekly charts, indicating long term price moving South!
On the other hand, I do believe we are in an uptrend. This week(s) probably price correction (dip's).
Importantly, we need price confirmation that bearish momentum took place. On daily trend break on down side will confirm price going down.

Have a nice trading week!


V.
Keeping an eye on this. I wanted to short it on Friday but I missed entry. Just cautious on this with Pfizer news today and GDP tomorrow. I don't take much notice of FUNDAMENTALS but these are real tight stops.
+1 Reply
VukmanManic the_one_that_got_away
Thank for comment @bertotrode! Yeap, important fundamentals, I do believe GBP is strong and not healthy for British economy, thus, (also I believe) the actions of Brits will be devaluation of the pound. But we will see. I haven't enter in a short position, as I wrote, I am looking for bearish candle confirmation and break of the trend line. Then and only then, we will see price going south. Moreover, the pound is overbought (overvalued), first indication of weaknesses.
All the best
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