GBP shorts similar to GBPJPY analysis
Similar idea to GBPJPY - Price has been very bullish and am looking to sell the reversal/pullback. GU has hit its monthly resistance and now needs to fall down to the next weekly zone or untested support.
- Anticipating more USD strength based off DXY chart
- Safer sells below the previous low (low risk)
- best entry would be another test of resistance creating a double top (high risk)
- Great risk to reward here
- Anticipating more USD strength based off DXY chart
- Safer sells below the previous low (low risk)
- best entry would be another test of resistance creating a double top (high risk)
- Great risk to reward here
Comment:
Entry is in profit monitoring through London
Comment:
Still looks good as long as it stays below its high, SL can be moved right above high for less risk.