Another idea post about GBP/USD -short. I posted earlier that I opened a 3.89 lot size position, which is relatively large for me, and I am firmly betting on GBP/USD to fall back to at least 1.30 level, and shooting even lower for 1.28 in an ideal world. Again, with Brexit FUD swirling around, this trade is up in the air. I was shocked to see it rebound so high back to the 1.31 and above levels, but I feel like it will ultimately fall again, despite the week-charts showing what might be more of an uptrend. In the long-run, I think GBP/USD is more likely to be bullish, but for March, I am aiming lower.
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I moved my stop up because I really didn't want to see this trade fail, and I am glad I did that - woke up and saw the pound plummet -0.49%, which is good news for me. I am hoping it continues to fall with brexit uncertainty.