GBPUSD back to 1.20 ?
GBPUSD has been relatively weak over the past 2 weeks. We saw a massive selloff of almost 700pips. GBP continues to show weakness over all pairs, and now that Boris Johnsohn also plans a second lockdown, it would send the GBP all the way back to the ground.
I already entered GBPUSD short, with my Stop Loss just above 1.3030 as that level is my invalidation level. An entry is still possible now as the setup, as I said, would first be invalidated once it breaks above 1.3030, and as our Corrective Pattern is broken as well. We did have a fakeout earlier the week but nevertheless, seems like price finally broke out of the rising wedge that was formed as well.
I already entered GBPUSD short, with my Stop Loss just above 1.3030 as that level is my invalidation level. An entry is still possible now as the setup, as I said, would first be invalidated once it breaks above 1.3030, and as our Corrective Pattern is broken as well. We did have a fakeout earlier the week but nevertheless, seems like price finally broke out of the rising wedge that was formed as well.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.