GBP BEARISH - heading to new lows - short scalp on retracement

12 de dez. de 2024

Small trade amidst the larger slow wind down to 1.23 as per last post.

Technicals - broken uptrend
Fundamentals - weak UK economy; buoyant US economy divergence long term

SHORT (on retracement)
Entry 1.2740
SL 1.2810
TP 1.2610

Good luck!

13 de dez. de 2024

Nota

Probably will not get a big enough retracement.

New Idea if we get retracement back to 1.27s

Entry 1.2715
SL 1.2745
TP 1.25

Please note: even if we do get retracement - fundamentally there is no strength in the GBP to carry it past the last high of 1.2810 in the near future. Todays manufacturing number as I had mentioned disappointed and the employment numbers next week will add further pressure on the Pound - I am shorting at every retracement all the way down as the UK economy is really in a mess.

Please do your own research and trade with stop losses - patience and risk management always pays off in the long run!

All the best!