GBPUSD Two Ways to Trade this pair right now
Testing imprtant resistance from the upper parallel of the flag
formation. Can be shorted with stops above the upper parallel
for small loss if wrong and can also be shorted from lower
down by using a break of he little speed line running under
recent the lows as a trigger - looking to short on a retest of
this line from the underside, once broken.
This is a speccy sell, only here because the loss is small (10
pips) if wrong. And if so, and the upper parallel is broken
through and held by the bulls on the retest it will be the
signal to reverse, looking for quite a strong rally (not many
look to be long here by shape of chart, mostly disbelievers in
GBP, still left over from Brexit...the slow-witted, really slow-
witted) which should take Sterling to 1.3599 minimum and
1.3633 maximum in near term.
The alternative is to await the outcome of this battle, and
side with the winner: one of the two dynamics will break - up
or down - follow that break when it comes, on the retest,
with stops above/below the dynamic once broken.
Testing imprtant resistance from the upper parallel of the flag
formation. Can be shorted with stops above the upper parallel
for small loss if wrong and can also be shorted from lower
down by using a break of he little speed line running under
recent the lows as a trigger - looking to short on a retest of
this line from the underside, once broken.
This is a speccy sell, only here because the loss is small (10
pips) if wrong. And if so, and the upper parallel is broken
through and held by the bulls on the retest it will be the
signal to reverse, looking for quite a strong rally (not many
look to be long here by shape of chart, mostly disbelievers in
GBP, still left over from Brexit...the slow-witted, really slow-
witted) which should take Sterling to 1.3599 minimum and
1.3633 maximum in near term.
The alternative is to await the outcome of this battle, and
side with the winner: one of the two dynamics will break - up
or down - follow that break when it comes, on the retest,
with stops above/below the dynamic once broken.