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British Pound / U.S. Dollar
Short

GU Rising Wedge

By leeweechong
Updated
GU broke out of range and moving up in a rising wedge. Original target for short was 1.30 but it's too close to current price and may gap up over French election weekend. Watch for 1.33 where it will reach 0.5 retracement of the larger drop and top of downward channel.
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GU daily view
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Took profit last night at 1.290 structure and added new positions today at 1.295. Price currently tracking a bearish expanding wedge. Let's see if it breaks down when it reaches the bottom of the rising wedge. I suspect there is one or more ups to go.
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Still holding shorts. Good profit. Hope that GU will close gap :)
Trade closed manually
Close in profit. Dollar is weak and there is no catalyst in sight for it to get stronger. Time for dollar bulls to go to sleep until the bears are exhausted.
leeweechong

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