GBPUSD and possible trade ahead
As the time to MPC Meeting Minutes is slowly ticking I can feel the pressure on GBPUSD. In the last several weeks it had almost parabolic bull run and has reached a previous 29th March high. In my opinion it is time to take some profits and I will be looking to short this pair at 6235 down to 6060's. The RR is +3.2. What stands in my way? An outer top trendline (see picture). What it my entry – retracement to 6230's aka supply zone? If 6200 is broken strongly we can expect a move to 6120's where the next support is. Let's see what happens.
Leave a Reply