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GBP/USD short trade setup

First trade after a longer break!
I entered this trade on anticipation of a breakout to the downside! Pair is still trading at the trendline, I have moved my SL to almost break even level, so this is now pretty much a free trade. Looking to hit the targets at 1.52 - 1.5250 and potentially 1.50. Will also pay attention how traders react at the recent lows. Any hesitation and I am out of this one!
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Olga18375 avatar

good luck

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GBP/USD short

Still no major changes with this currency pair. Looking for some short opportunities. All the majors had some correction this week so far, will see if it changes tomorrow or only next week. Outlook on all those pairs is still very bearish.
I have marked recent swing highs as those areas most likely will be the zone of reversal. One could go short at the current price with a tight stop loss above the recent high marked with an ellipse, however I would wait for tomorrow morning to see if the pri…
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GBP/USD long term

Notice the ''W'' shaped bottom that reversed the price previously, the striped line is the level from where we could have expected a bounce or liquidation of some shorts. Not much volatility at this level and therefore no support.
If we look at the candlesticks they tell you the same story. The week after reaching this level we see an inside bar - indecision. And last week we get an engulfing candlestick with a new lower low and lower close indicating that most likely the price will continue t…
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GBP/USD short setup

Pair is undoubtedly trading downwards for the last few months, currently stuck in a range between 1.58 and 1.56. It has also formed a symmetric triangle which in these market conditions in my opinion is more likely to be a continuation pattern. We saw a break out of this triangle, however it was insufficient to attract interest of buyers.
We also had an interest rate announcement today which remained flat at 0.50 % respectively not giving any encouragement to go long.
As an entry I chose engul…
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GBP/USD update

Was expecting some more movement today for this pair. Though it was not too volatile. It played out scenario A. Took out the low marked with green ellipse. We are also dealing with a very round number 1.7000. It is acting kind of a support now. It might not be hit anymore. Most likely 1.7050 was the intraday level that got more attention from the traders. I am waiting for a break out tomorrow to the upside. My target is the white line on the chart @ 1.7190. If price action is strong enough, targ…
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VikaChechenkova avatar

Exellent!!!!

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GBP/USD for 22/07

Really quiet day the today. Not much going on. As most of the time on Mondays. I am still long on GBP/USD. I personally think that Asian session will be flat and then in the morning when European session starts or shortly after that we will see a push lower. If I am right soon afterwards the price will reverse and continue to the upside. As on H4 and daily charts we are still pretty bullish. Currently the most important price level to me looks the one that is marked with green horizontal line. I…
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GBP/USD near term outlook

For last two weeks pair has been trading sideways, making new highs and new lows every now and then. Not really an expanding triangle either, more like an ascending triangle. The last push up was caused by news release, but price didn't manage to go higher, instead it dropped taking out stops that were placed by buyers below this huge bullish candle.
The overall trend for GBP/USD is definitely bullish. It also trades above SMA 200 on H4 and daily charts.
I took a long position on Friday, hopef…
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GBP/USD

Another nice setup folding out for the next week. GBP/USD is currently definitely in an uptrend. Has kind of run out of steam, therefore a new trigger is necessary. It looks to me that price will be pushed down. Can not predict precisely how far, but some levels are very obvious.
First is the green line which is the recent swing low. Breaking below this low should mean that a downtrend has begun. But it is for another reason, just to get more momentum. Same goes for another possib…
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