GBPUSD Trend breakout - Possible Short trade

GBPUSD fell quite sharply since the feds interest rates release that hinted further rates hikes in future, DXY soared on this news which ultimately pushed all the major currencies. GBPUSD left a print on 21 June at 1.3786 area. It retraced afterwards making marginal new highs, I have marked a compressing channel on my chart that broke out just recently on BoE interest rate release, as the market is in a clear downtrend and momentum is still there so I am expecting the market to re-test 21 June lows around 1.3790 area.

Manage your risk.
Trade Safe!
Good Luck.

Commentaire:

Trade started working.

Trade fermée: cible de profit atteinte:

closed the trade at 1.3801 since target is almost hit.

Trade fermée: cible de profit atteinte:

1.3790 hit ✅