Based on our Super Forex Launcher System, we have a potential reversal on hand in GBPUSD. From mid Feb onwards, the Bull charge was just relentless. Marching from 1.27 to 1.33 for a 500 pips gain in just 2 weeks may now see the Bull finally running out of steam. A potential retracement is in place if our sell stop can be triggered.
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Counter Trend Strategy GBPUSD – 1st March 2019
So here’s our order for this Counter Trend Strategy in GBPUSD.
- Sell Stop Order: 1.32307
- Stop Loss: 1.33404
- Take Profit: 1.31331
Anything with GBP is a risky trade now with the uncertainty in BREXIT. So if unsure, don’t take this trade. If you want to just be in the game, then just take a small quantity. Either way, I wish you well in this trade.
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