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Short

GBPUSD, lets short for week 3!

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD's week 2 movement largely confined itself in a range until Friday, when it rises about 120 pips and ended the week with a bearish candlestick combination, which I took the opportunity to enter a short.

I did not change the label of the chart because I wanted to remind myself of this incident where the price went up above the supposedly reversal level and price pattern. The small reversal pattern created in the latest box reflects the reversal price pattern I am looking for. If you look at the M15 chart, it will also show a candlestick combination which reflects the change of trend when found in the right place.

I entered long in Thursday US session, stayed on with it, and to realise about 100 pips and 50 pips respectively on two long positions in GBPUSD . Later I entered a short, at 1.28580. Currently up by 17 pips, and the swap for the weekend is positive. I am expecting the pair to move lower for week 3, and to add position when the market opens for its week 3.

I hope you make good gains for week 3, and continue to increase your account's equity!

If you have any thoughts on GBPUSD's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
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