GBPUSD - accept when you are wrong and adapt..
If you take a look at our previous outlook on GU you'd see we expected a bearish movement from the pair due to it reaching the strong downward trendline that we could see. However, upon checking on the DXY and the continuing strength of the £ we could see this pushing so as we had a sensible stop loss in place we did lose out unfortunately but now we look for new entry points.
We watched as the pound powered through yesterday and then looked for an opportunity to get into a buy, today we caught that. Price pushed down and retested our trendline and now we can see this pushing up. We have already secured some profit making up our previous loss and now anything here on out is purely profit. Don't over expect when trading, set your expectations and let the trade do it's thing. We have a final TP area of around 300 pips so let's see! Let me know your comments :)
We watched as the pound powered through yesterday and then looked for an opportunity to get into a buy, today we caught that. Price pushed down and retested our trendline and now we can see this pushing up. We have already secured some profit making up our previous loss and now anything here on out is purely profit. Don't over expect when trading, set your expectations and let the trade do it's thing. We have a final TP area of around 300 pips so let's see! Let me know your comments :)