Setting up sell stop order with TP at previous period's S4 fib line (green) and SL at upper BB and current base fib line. Higher time frame charts support the drop though there's still probability that this pair will go ranging again, but I think it will drop near 1.20 (this year's low) to test the psychological support before either bouncing up or dropping further--depending on the sentiment regarding Brexit and Trump.
fxstreet.com/news/gbp-usd-pare-losses-after-us-gdp-201702281338
econotimes.com/FxWirePro-GBP-USD-strongly-bearish-despite-upside-attempts-564116
fxstreet.com/news/gbp-usd-lowest-daily-close-since-january-23-201703010142
D:
W:
Confidence: A (technicals are aligned with fundamentals and current sentiment)
fxstreet.com/news/gbp-usd-pare-losses-after-us-gdp-201702281338
econotimes.com/FxWirePro-GBP-USD-strongly-bearish-despite-upside-attempts-564116
fxstreet.com/news/gbp-usd-lowest-daily-close-since-january-23-201703010142
D:
W:
Confidence: A (technicals are aligned with fundamentals and current sentiment)
Trade closed manually
Manually closing this trade to lock in gains because it's Friday and price might reverse again soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.