Potential Short Opportunity for GBPUSD
Before you carry on reading, i do want to draw your attention to the fact that this is a risky trade with a lower risk-reward ratio. So if you really want to follow this trade, then i will advise to manage your lot size appropriately.
Moving on, i believe that we see a higher possibility for GBPUSD to move lower given the seemingly weaker GBP momentum today. If prices breaks out of the identified zone (rectangular box), then i will look to open a short position on pullback. I believe this to be a short-term scalping trade as i personally think that USD should be weaker in the coming weeks (applying fundamentals).
Trade with caution and all the best. This is just my views and definitely not a recommendation on how any readers apply what i said.
Moving on, i believe that we see a higher possibility for GBPUSD to move lower given the seemingly weaker GBP momentum today. If prices breaks out of the identified zone (rectangular box), then i will look to open a short position on pullback. I believe this to be a short-term scalping trade as i personally think that USD should be weaker in the coming weeks (applying fundamentals).
Trade with caution and all the best. This is just my views and definitely not a recommendation on how any readers apply what i said.
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