As I wrote in a post from May 27, the GBP / USD forecasted adjustment to 5378. As a result, I have booked a profit with 350 pips in 5 business days. At the moment, I recommend observations of the pound with the possibility of a short position.
Someone could ask, why I recommend only observation ?
because the EUR / USD after the publication of 3rd June ISM Manufacturing PMI definitely hereinbelow expectations by market were overcome significant resistance, which may mean that the strengthening of the euro is not over. This may affect the course on a pair GBP / USD.
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| chart 1, recommendation from 27th May |
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| chart 2, now, only observation |
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| chart 3, additional confirmation ? |
but if you take a risk and buy a short position, remember that the market may again in the coming hours or days to test the level of 5378. So, SL is best to set above this level.
Regards,
oscarjp
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