GA short currently running in profit, however thought to post it's current progress.
Second TP at descending channel is the overall goal, however the pound could be regaining some strength in these current weeks.
What leads me to believe this is GBPUSD's approach to 1.200. From what I understand, a drop below this level would mean bad news for the pound and it would be in the big banks best interest to prevent a drop below this level. Am expecting some buys soon.
Confluences for this short:
Break of TL
Retest of TL
Retest of EMA
38.2% Fib.
First position running at breakeven.
Second will be moved to B/E once it reaches 1.76300
Second TP at descending channel is the overall goal, however the pound could be regaining some strength in these current weeks.
What leads me to believe this is GBPUSD's approach to 1.200. From what I understand, a drop below this level would mean bad news for the pound and it would be in the big banks best interest to prevent a drop below this level. Am expecting some buys soon.
Confluences for this short:
Break of TL
Retest of TL
Retest of EMA
38.2% Fib.
First position running at breakeven.
Second will be moved to B/E once it reaches 1.76300