GBP/USD This Is The Short Squeeze coming

GBPUSDWeekly

The weekly chart of the cable reveals that yet again 1.4000 is doing it’s ‘YOU SHALL NOT PASS’ thing. BREXIT chatter on the headlines is turning everyone GBP bearish, for this very reason I believe a short squeeze is due. Couple that with those fancy lines I drew, over streched price and monster big weekly 2 bar reversal signal and you get yourself a trade. We might see a bit of a retrace we might not. Once price pops it would be looking at 1.4800-1.5000.

Hope you found this post useful. Feel free to ask me any questions or share your opinion in the comment box below. You can contact me also at miadkasravi@zfxtrading.com or twitter handle @zfxtrading and please like this post if you found it useful.
Best

Miad

2 comments

    1. Cable filled the gap and broke some key resistance level in doing so while many traders will deleverage here, price flow is key. For now pullbacks are possible but I see 1.4800 a possibility.

      Like

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