Over two weeks ago, I wrote that the GBP/USD will move down over the next few months to take out the current level of support at 1.4779.

Four days ago, I wrote that the GBP/USD took out a level of support at 1.5128. 1.5128 was made on April 6th. The GBP/USD took out that level of support moving down to 1.5125 on April 28th.

Four days ago, I also wrote that the GBP/USD retraced to a level of resistance, as expected, around the 1.5320 level. (It actually moved up to 1.5389, which is fine.)

Four days ago, I also wrote that the GBP/USD will begin to move further down past 1.5125, which it is now doing as of this post. The GBP/USD has currently moved down as far as 1.5096. This is only the very first of this movement down; therefore, there is much more movement down expected.

I am currently in two trades shorting the GBP/USD and currently up in profit at:

• 200 PIPs on 1 LOT
• 245 PIPs on 1 LOT

I was also in two other short GBP/USD trades which exited profit this morning of: (These were short positions I entered at a bad position and wanted to exit both with profit.)

• 56 PIPs on 1 LOT and
• 90 PIPs on 1 LOT

When there are temporary pauses in this movement of shorting the GBP/USD, I will post strategic exits to capture immediate profit and times to place countertrend trades for more profit while the GBP/USD retraces to a target level of resistance before moving down further.

-LattePIPs