GBP turning bearish after surge to 1.28 - heading down to 1.23

4 days ago

GBP turning bearish after surge to 1.28 - heading down to 1.23 is support zone of 1.25-1.2610 breached.

Entry 1.2760
SL 1.2810
TP1 1.25
TP2 1.23

Good luck all!

3 days ago

Trade active

Update:
Moved SL to Break even at 1.2760
The green trend line still not broken clearly - all eyes on US CPI numbers.

Good luck everyone (especially if you are in a similar trade :) )

3 days ago

Trade closed: stop reached

Stop reached at break even - got back in on the short - trade now stands at

Entry 1.2780
SL 1.2810
TP1 1.25
TP2 1.23

The green upwards channel line still not broken but I am still maintaining short here - dont see much upside for the Pound in terms of economic numbers - next weeks UK unemployment numbers to show a decline post the new budget and reforms - however, may take a call before Fed decision next week on interest rates. UK is not going to cut but the US might next week as per market expectations. However, I still think they may pause despite inflation being subdued as Trump takes over in January and should he follow through on his tariff plans, inflation will come roaring back - trade safe with tight SL and good luck everyone!

Maintaining capital is of utmost importance!

2 days ago

Note

UPDATE
Moved SL to break even at 1.2780 - risk free trade now that green upward line has been breached.

UK data should bring about a big drop in the Pound over the next 3 trading days with some respite coming in should US cut interest rates.

Enjoy the ride below if you're short and keep trailing SL to keep profits.

2 days ago

Note

Took profit at 1.2680 - 100 pips - will get back on short should we see a bit of retracement. Long term trade still intact but will take time.
Good luck!