GBPUSD (1D): Reversal Possibility High
Updated
GBPUSD Timeframe: 1D
Direction: Short
Confluences for Trade:
- Waning momentum in demand for GBP
- Price action bounced off resistance line (since September 2018)
- Stochastic Overbought momentum (1D and H4)
- Breaking steep S/T Trendline
- Fundamentally, Brexit uncertainty still remains in both negotiation between EU and UK; reports of good news for Brexit are not official annoucements and Barnier said that there will be no deal until there is a solution to the Irish border issue
Suggested Trade:
Entry @ Area of Interest 1.3100 - 1.3165
SL: 1.3193
TP: 1.2939
RR: Approx. 2.03 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Note
Lock in profits for half the position and move SL to BE. Run the remaining position totally risk free.
Trade closed: target reached
:D
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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