GBP is not doing good these days. That's why I think there is room for a minor position in this >late< buy point. Because of the overall down trend on this chart and trading below all the EMA and MA's, it is save to say it might go a bit lower. I think it is fine to have a 160 stop-loss because it had 7 days straight with loses. So it might kick a bit soon. Trade this carefully with a lot of attention. See also below a link to my GBPCAD position I did some days ago, it's still going strong short and it's about to form a nice add-point for people already in.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.