GBP BEARISH - heading to new lows - short scalp on retracement
Small trade amidst the larger slow wind down to 1.23 as per last post.
Technicals - broken uptrend
Fundamentals - weak UK economy; buoyant US economy divergence long term
SHORT (on retracement)
Entry 1.2740
SL 1.2810
TP 1.2610
Good luck!
Technicals - broken uptrend
Fundamentals - weak UK economy; buoyant US economy divergence long term
SHORT (on retracement)
Entry 1.2740
SL 1.2810
TP 1.2610
Good luck!
Note
Probably will not get a big enough retracement.
New Idea if we get retracement back to 1.27s
Entry 1.2715
SL 1.2745
TP 1.25
Please note: even if we do get retracement - fundamentally there is no strength in the GBP to carry it past the last high of 1.2810 in the near future. Todays manufacturing number as I had mentioned disappointed and the employment numbers next week will add further pressure on the Pound - I am shorting at every retracement all the way down as the UK economy is really in a mess.
Please do your own research and trade with stop losses - patience and risk management always pays off in the long run!
All the best!
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