After closing the Dollar Yen successfully now I am looking at GBPUSD. Its a contra view for very short term.You can check that view here
GBPUSD could find some mild support here at 1.2160 area and that is where I look to risk a trade and enter long. A risky is advised here at 1.2160 with a stop at 1.2105 , The stop is a deep 55 pip for a short term call as next decent support is only at 1.2110 area. The initial target is 1.2210 and then 1.2230 and 1.2250 could be looked at trailing the stop.
Trade - Buy GBPUSD
Price - 1.2160
Stop - 1.2105
Target - 1.2210 l 1.2230 l 1.2250
GMT - 9:49 am
Watch this space for further updates as trade progress
Update - GMT 5:37 pm
Its been 7 hours of waiting for the pair to move but the range for now is very thin and we have now moved to late US Session. Currently the pair is now at 1.2155 area and I would close the trade with a minor 5 pip loss here and be happy with the 25 pip earned in USDJPY.
Tomorrow is a new day with a clean slate.
Fayaz Sadik Sait
Trading in financial instruments is not for the weak hearted , Trading these instruments involves high level of risk and losses can exceed capital (depending on your FX Broker).My advises should be used as a medium to learn and not as a medium to get RICH.I dont have any formula for anyone to get RICH. I shall share no responsibility for anyone's profit or losses.Once again Trading is not for everyone.
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