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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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.