GBPUSD Update: 195 Pips booked in GBP/USD Sell, more drop?
Dear traders, ever since GBPUSD retested the broken support last Tuesday , I advocated selling GBPUSD in my previous ideas(check below). That trade has reached my initial target of 1.2330 and more than 195 Pips have been booked so far.
So, what's the current situation in GBPUSD?
Well, bears are still strong and I expect the downtrend to continue but the current market price is not right to place fresh sells.
Therefore, I will wait for a pullback to happen before putting fresh sells.
For traders who are waiting to buy, there is no sign that Bulls have shown up. So, I suggest potential buyers to wait for wait for some Bullish movements before buying. After all, it is futile and dangerous to try to catch Tops and Bottoms.
So, what's the current situation in GBPUSD?
Well, bears are still strong and I expect the downtrend to continue but the current market price is not right to place fresh sells.
Therefore, I will wait for a pullback to happen before putting fresh sells.
For traders who are waiting to buy, there is no sign that Bulls have shown up. So, I suggest potential buyers to wait for wait for some Bullish movements before buying. After all, it is futile and dangerous to try to catch Tops and Bottoms.
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