SHORTING GBPUSD For the short term LOLKey:
Orange bars= Take profit Areas
Blue bars= Key areas
Overview
For the long term I believe that this pair is going to be bullish. However, in the short term I think that there could be an opportunity to hop on and get in on the retrace down to the 1.1930 levels, because that is the last place where price stopped at, and it also lines up well with the Fib-retracement tool.
The Plan
Currently price is in a mini consolidation. I am going to wait for price to break and retest my lower key level (1.2060) before getting in for a Sell down 1.1930, the orange lower level.
Plan B
If you fail to plan you plan to fail . In the case that price doesn't break my lower key area , it could go long. If it wants to go long I will wait for price to break and retest my upper key area (1.21500) before getting into a buy up to 1.2250.
* I have also set up alerts around my key areas so I can be ready for price when it gets there.
Information created and published by you on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
