GBPUSD: Time to take profits!

GBPUSD: Time to take profits!

26 April 2016, 11:47

Pre-Requisite Reading: General Forecast

We have been calling long positions in GBPUSD for several days now and in this trade setup: GBPUSD: Still Bullish!, you can see which are the levels to consider and how to play it. However there are several factors which we should consider now before opening any position. This might be a good opportunity to start and lighten up your long positions but not necessarily go short.

(Our long position is about to be liquidated very soon around 1.46 levels)

Why the rally might be coming to an end:

  1. We are currently trading in overbought level (RSI)
  2. Rally has become vertical (Euphoria- ... Read More
Share it with friends: