[Signal] GBPUSD: D-Month of Brexit is here!
GBPUSDTimeframe: 1D
Direction: Short
Confluences for Trade:
- Waning bullish momentum
- Stochastic Overbought momentum
- Price action has reversed against a Horizontal Trendline
- Widening of the EMAs
- Fundamentally, the chaotic Brexit has made the GBPUSD very choppy to trade and another vote is coming up on the March 12 and the D-day is on March 29. Price action have shown that alot of pricing in has been done on the delay of Brexit but does a delay actually help the UK? Previously mentioned, the GBP is bound for further uncertainty if a delay is the outcome this month.
Suggested Trade:
Entry @ Area of Interest 1.3165 - 1.3300
SL: 1.3397
TP1: 1.3000
TP2: 1.2798
RR: Approx. 2.20 (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.
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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