What happens when political uncertainty mounts in a market where Short positions are at their all time highs? Some get nervous and start to reduce most probably... This GBPUSD rebound has been more resilient than any could have anticipated but the 3-wave rebound could be soon facing a serious test as an ABCD pattern completes in a zone of previous price congestion.
Trade active
I am now short on this reversal.
Trade active
The turn is getting confirmedNote
Despite the recent choppy price action, the downward trend seems intact. My panic level on my short trades is 1.2910 which is the flat top of the Kumo.Note
That's what I would call a clear confirmation of the downmove...Note
Still moving according to plan. Positions held without any trauma for once.Trade closed manually
Stopped at entry on the position
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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.