IvanLabrie
Short

GBPUSD to confirm short soon

FX:GBPUSD   British Pound/U.S. Dollar
231 3 13
Thanks to The Working Trader for bringing this to my attention.
We have considerably bearish GBPUSD             news, mentions of a possible rate cut, amongst others...
The technical setup in both daily and weekly charts is clear, downtrend continuation.
My time and price target is ultimately 1.41021, to be reached at or before June 1st.
The entry hasn't been confirmed on the daily, but RgMov is already printing new lows ahead of price action, which is a bearish signal.
I'll update with my entry short.
Cheers,
Ivan.
Trade closed: stop reached
Retest of weekly resistance, very limited upside potential.
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GBP seems to be extremely strong lately, I suspect it won't fall much, or won't fall at all.
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snapshot

Setup confirms after today's close...Time and price target are outlined in the chart but it may reach it ahead of time.
If it does, expect a strong retracement from that level.
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