GBP/USD starting to look over valued

Jun 4, 2020

As per diagram

Jun 4, 2020

Trade active

Entry 1.2620
Partial profit taken 1.2588
Stops now to b/e

Jun 4, 2020

Note

T2 1.2540
T3 1.2490

Jun 4, 2020

Trade closed manually

Stop at b/e even tripped. Trade closed for 32 pip move. Still looks overvalued - waiting to re-enter short higher up

Jun 4, 2020

Note

Re-entry at 1.2626 targets stay the same

Jun 5, 2020

Note

Trade closed with small loss - closed above 1.2646 - possible extension to 1.2725 - still looking overvalued for now though

Jun 5, 2020

Note

Re-entry again at 1.2645 - bond yield with extreme divergence from price which is at s/r area - stop above last swing high

Jun 5, 2020

Order cancelled

Closed with small profit at 1.2626 before US data report today