GBPUSD: Bearish to 1.27775

The Cable right now is heading to the point where the price break below the 1.29000 key level or no?

The answer is YES !

As trader can see the price in this weekly chart, it is strongly indicate the price is being controlled by the bear traders. Looking tonight at 10.00pm GMT +8 Malaysia/Singapore time for ECB President Lagarde Speaks, hoping the he will do something to this cable. If the speech contain any dovish statement in his speech,
this will send the price down to 1.27775 key level.

The price strong bearish as the bull trader not interested to purchasing the pound at the moment. By looking at the chart, bear trader took this opportunity to make the first move to sell the pound. 98% bear traders in control versus the 2% bull traders which is consist of the speculators. This sentiment tonight will affected strongly towards the projection of downtrend.

I believe in the aspect of economy in the UK this news tonight could possible to be more dovish or unchanged.

I love to trade the Cable because the cable currency is much more stable and reliable in term of trading the economic rather compared to the Fiber.

I am holding SHORT Cable until 1.27775 value before take the profit. I could be days or months before closing the trade. If something change in the trading, I will close it at 1.28025 or 1.28075.

Trend is your friend. Anything that you do to trade GBPUSD, is just only SHORT. Follow the trend.

***end of article***


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