GBPUSD H1 potential short position
Hi
As chart
If price breaks out of the below supply zone (red block below)
Uptrend has momentum to continue rising
But it has possibilities to meet selling pressure since there is a resistance zone that hasn't been successfully broken since 9/22 decline.
When price hits the upper supply zone and there is a "clear bearish singal" could be bearish engulfing, evening star... so on
I'll consider placing short position for short term
After all, it has gone up for a while
RR 1:2 but depending on the situation
DXY drops and there is a new UK minister, unsure what policy he will do on currency.
UK also took office as a new prime minister, and he doesn't know what policy he will have on the currency.
All are personal opinions, not investment advice,
all suggestions and feedback are welcome!
As chart
If price breaks out of the below supply zone (red block below)
Uptrend has momentum to continue rising
But it has possibilities to meet selling pressure since there is a resistance zone that hasn't been successfully broken since 9/22 decline.
When price hits the upper supply zone and there is a "clear bearish singal" could be bearish engulfing, evening star... so on
I'll consider placing short position for short term
After all, it has gone up for a while
RR 1:2 but depending on the situation
DXY drops and there is a new UK minister, unsure what policy he will do on currency.
UK also took office as a new prime minister, and he doesn't know what policy he will have on the currency.
All are personal opinions, not investment advice,
all suggestions and feedback are welcome!
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