I'm looking to enter a short position on GBPUSD at 1.28230. Here's my reasoning:
Potential Downside:
There could be factors putting downward pressure on the British Pound against the US Dollar. This could be due to weak UK economic data and political uncertainty.
Entry Point:
1.28230 might be a technically attractive level to enter a sell position based on historical price movements or technical indicators.
I have a limit order set risking 0.5% and looking for 2.5% profit.
Entry: 1.28230
Stop: 1.28642
Profit 1: 1.26947
Profit 2: 1.26454
Potential Downside:
There could be factors putting downward pressure on the British Pound against the US Dollar. This could be due to weak UK economic data and political uncertainty.
Entry Point:
1.28230 might be a technically attractive level to enter a sell position based on historical price movements or technical indicators.
I have a limit order set risking 0.5% and looking for 2.5% profit.
Entry: 1.28230
Stop: 1.28642
Profit 1: 1.26947
Profit 2: 1.26454
Trade active
Trade closed manually
Trade closed manually at BE. DXY looks like it is ready to fall.
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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.