GBPJPY Trade setup Short
Updated
New trade Setup Idea
the pair has been making lower lows and lower highs on the chart . Fundamentally, GBP has reached it higher potential even after the BOE temporary push to keep it at 7 weeks high levels against the USD.
the fears in the Banking sector, Real estate sector have led to the flight to safety which has started from GOLD rise.
it will be followed by JPY and USD which are aligning up nicely.
thats why i am taking the short postion for with initial target in mind.
setup details
Entry Short :- 161.45-161.60
Stops :- 162.50
TP - 159 or closer
best of luck
the pair has been making lower lows and lower highs on the chart . Fundamentally, GBP has reached it higher potential even after the BOE temporary push to keep it at 7 weeks high levels against the USD.
the fears in the Banking sector, Real estate sector have led to the flight to safety which has started from GOLD rise.
it will be followed by JPY and USD which are aligning up nicely.
thats why i am taking the short postion for with initial target in mind.
setup details
Entry Short :- 161.45-161.60
Stops :- 162.50
TP - 159 or closer
best of luck
Trade closed: stop reached
Although the stops have been reached . The COT confirms the thesis still. we will find another oppertunity
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