British Pound / U.S. Dollar

Short

GBP/USD starting to look over valued

Updated

As per diagram

Trade active

Entry 1.2620
Partial profit taken 1.2588
Stops now to b/e

Note

T2 1.2540
T3 1.2490

Trade closed manually

Stop at b/e even tripped. Trade closed for 32 pip move. Still looks overvalued - waiting to re-enter short higher up

Note

Re-entry at 1.2626 targets stay the same

Note

Trade closed with small loss - closed above 1.2646 - possible extension to 1.2725 - still looking overvalued for now though

Note

Re-entry again at 1.2645 - bond yield with extreme divergence from price which is at s/r area - stop above last swing high

Order cancelled

Closed with small profit at 1.2626 before US data report today

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.