GBP/USD Forecast: Short the long
Here is what to expect on GBP/USD
RECAP:
In our previous analysis GBP/USD was trading at 1.38700
We were bullish on the pair but cautioned that if the pair broke below current support
We'd expect some downward movement
The pair however continued its uptrend triggering our Buy Stop at 1.39 & hit our TP at 1.39200
which was adjusted closing our buy order at 1.39700
Banking 1400 pips over 20 positions on the pair.
WHAT TO EXPECT:
Currently @ 1.39600
GBP/USD is still bullish long term
But we expect it to be bearish short term as the DXY is bullish at the moment
The pair has to break above resistance at 1.40 to confirm its upward trend
If the pair breaks below current support/resistance @ 1.39500-1.39200
We expect it to go back to the 1.38600 zone
Keep an eye on DXY & US10Y
OUR POSITIONS:
Currently @ 1.39600
Buy Stop @: 1.39800
Buy Stop TP @: 1.40
Sell Stop @: 1.39200
Sell Stop TP @: 1.39
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis GBP/USD was trading at 1.38700
We were bullish on the pair but cautioned that if the pair broke below current support
We'd expect some downward movement
The pair however continued its uptrend triggering our Buy Stop at 1.39 & hit our TP at 1.39200
which was adjusted closing our buy order at 1.39700
Banking 1400 pips over 20 positions on the pair.
WHAT TO EXPECT:
Currently @ 1.39600
GBP/USD is still bullish long term
But we expect it to be bearish short term as the DXY is bullish at the moment
The pair has to break above resistance at 1.40 to confirm its upward trend
If the pair breaks below current support/resistance @ 1.39500-1.39200
We expect it to go back to the 1.38600 zone
Keep an eye on DXY & US10Y
OUR POSITIONS:
Currently @ 1.39600
Buy Stop @: 1.39800
Buy Stop TP @: 1.40
Sell Stop @: 1.39200
Sell Stop TP @: 1.39
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
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