GBP/USD / Trade Recommendations

GBP/USD Reversal Over – Re-enter Short


Back in December, I posted here that the GBP/USD was beginning a reversal toward 1.6300. I hope you were able to enter at a strategic position before the reversal. My picture showed the GBP/USD moving down to the 1.5400 level before the reversal; however, the GBP/USD made a new low at 1.5236 before beginning the reversal. If you did enter at 1.5400, then you are currently positive around 330 PIPs as of this post.

It appears that the current reversal is over, has stalled out at the 1.5900 level, and that the GBP/USD will resume its downward trend. Look for a Limit sell around 1.5850.

Happy trading!
LattePIPs

3 thoughts on “GBP/USD Reversal Over – Re-enter Short

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