Short

A great opportunity for Shorting GBPUSD

Updated

Dear Friends,
Sorry this is a quick one, I will update you later,
Regards,
KHAN

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I was going to sleep but I could not. :)

Massive massive breakout of the H&S and it is just the beginning. Over the weekend if you remember I said that GBP will be depreciating and here you are.

I would not exit from this trade any time soon. I am going to keep it for weeks to get to the target or beyond.

KHAN

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Nothing is in this GU weekly chart but in terms of the price action the fact that the last three candles (including the current candle) could not even make a higher high and could get back to EMAs is very bearish signs for GU.

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Dear Friends. I hope you are enjoying this trade. If you already missed this trade and you think hmmm maybe it is too late to join the party, let me show you the following Daily British Pound Weighted Average.
As you can see the wedge is broken but the main structure of it is not broken yet. If this make the lower low I see GU to fall like 1% today.
This is what I expected on my GBPNZD call over the weekend. Right?

Thanks, Khan

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Some of my colleagues going to exit around this level !!! They are happy with 70 to 80 pips of profit!

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Weighted average British Pound must follow the breakout of the GBP futures..

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How about all time FTSE 100 breakout? Most of the top UK companies are foreign companies and cheaper pound is good for their balance sheet. So that is why we are observing all time breakout of the FTSE.

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Both EMAs and Fibo acting as a strong resistance. Let's see if this is the move that we have been waiting for. GL

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Weighted average GU just broke the key support level. See where the first TP is. If you have a small account with high leverage you may want to exit there and then get in again below these double Fibo lines.

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Dear Friends

A beautiful Daily candle on GBP futures is forming and looks like going to be a bearish engulfing. But as you know the candle is not closed yet.

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Also FTSE 100 still continuing making new all time higher high. Here is also an update of Weighted average Pound

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Dear Friend,

Let’s review the last session’s price action for our GBPUSD Short trade.

This is weighted average Pound. One of the ugliest charts that I have ever seen in my career. What type of price action is this???
Apart from that please see how the major 23.6% Fibo acted as a strong resistance.

Another think that happened was the false breakout of the key resistance where GU moved higher and stopped out lots of retailers and pulled back again.

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One of my close friends ( geekfred ) has just sent the following idea to me. Then I thought why not sharing this with you. Thanks Fredy....

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I hope you are enjoying this trade. Negative numbers also send GBP lower.

Thanks also to Freday for sending his chart to me. I clicked the Like bottom on his chart above.

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Just to update you my dear friends that we have TWO major FIBO right at the current POUND FUTURE price.
There are lots of algos buying this. We might see some bounce in the near future but if that breaks see the next Fibo!!!!

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Still fighting so hard but do not get surprise if it bounce here.
It might take some times. ppl with small account may consider to exit.

I am in the trade now...

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Done!

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This is the summary of what has happened in GBPUSD market. It is a great chance that we see a break to the downside but a break of the topside does not mean that GU will be bullish. It may stay here a maybe slightly higher for a few days but eventually we going to get there. Hopefully !

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Dear Friends
With the UK bank holiday weekend on the way I am going to have some profit taking at 1.3308
GL

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Done, Hope you have a good weekend.

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if GU breaks to the lows here and does not complete the rotation to the upper band, it is will be big bear ...

We are getting really close to our target.

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Some bearish moves finally coming...

Trade closed: target reached

khansalarehsan

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A great opportunity for Shorting GBPUSD

by khansalarehsan

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