possible short setup
Updated
GBPUSD enjoyed a super bullish movement today (unfortunately I wasn't at my desk).
It managed to pierce into the newly formed mini uptrend channel however fell back down in the last few hours. I expect it to retest once again and fail again close around 1.385 and then fall backdown for a decent retracement.
Both US and UK has some strong economy data to be released so let's keep close eye on this.
Entry price: around 1..385; I will set mine at 1.38467 (order not put through)
SL: above 1.38625; mine is at 1.3865; however 1.387 is safer
TP: fib based. I will trail at 1.3818 if it reaches
SL hit or I will close by end of Friday.
GL.
It managed to pierce into the newly formed mini uptrend channel however fell back down in the last few hours. I expect it to retest once again and fail again close around 1.385 and then fall backdown for a decent retracement.
Both US and UK has some strong economy data to be released so let's keep close eye on this.
Entry price: around 1..385; I will set mine at 1.38467 (order not put through)
SL: above 1.38625; mine is at 1.3865; however 1.387 is safer
TP: fib based. I will trail at 1.3818 if it reaches
SL hit or I will close by end of Friday.
GL.
Note
SL changed to 1.387; possible SL hunt, but if US data is not that positive, this pair will shoot as price is now back in uptrendNote
:D Lost a bit more after moving the SL and got hit. Never mind, hope we all are safe. Have a nice weekend!
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