GBPUSD has been showing a downward trend on the daily.
Currently a pullback provides opportunity for a swing back in the direction of the trend (Short opportunity). See reasons below:
1) Overall Downtrend 2) Price has reacted back towards a downtrend from a previous resistance level 3) Price action shows a good chance for a further downward swing towards next key level of support at 1.18145
@ranbirranjitrai1991, looking good! loving it. Hoping this plays out as it does in the textbooks! :-)
GBP-PiP-Chaser
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@Piphunter1887, So far so good! I've closed everything for the day as was having to spend alot of time infront of the chart whilst pretending to work at the day job ... Held the short for the duration, scalped the retracement to the upper zone and then scalped from the 1.19822 zone all the way down to 1.18997. Total pips today 200 + ...
So far in July it has been now an 800 pip winning month - would have loved 1000 but not chasing the greed, trying to stay disciplined before I go live with my account in September.
Great call though brother! (applauds in pips)
GBP-PiP-Chaser
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@Piphunter1887 thank you brother, it should respect levels as I don't think the whales will come into play to buy just yet.