GBPUSD: Trend & Counter Trend Opportunities
I have a handful of trades on my radar today but I wanted to concentrate on the GBPUSD this morning because of the multiple opportunities. The main trade that I’m looking for is the Bearish trend continuation setup. This market has clearly broken structure to the downside and if we get relief we have an excellent structure level to predict where our next pullback will come to.
We’ve also just come into a minor support level which may offer counter trend traders a buying opportunity. This will be something that I dig into during my live room on a smaller timeframe (waiting for confirmation ofcourse), but with the RSI buried, minor structure and a little Fibonacci ratio confluence, my eyes are certainly looking for a chance to buy the GBPUSD as the bears become exhausted.
We had a good day in the Syndicate yesterday. I went 1 for 2 and I’m pretty sure Jason went 2 for 2 on his NZDUSD and GBPJPY shorts. Also on my radar today is the GBPAUD, EURJPY (already long), GBPJPY (already long), EURUAD and AUDCAD
Chief Currency Analyst
Akil@Tradeempowered.com /@AkilStokesRTM /
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