GBP/USD
Strategy: Exit Short at 1.6648
Total Profit / Loss: +354 pips
We sold GBPUSD at 1.6648. Prices nearly made it to our soft target at 1.5802 but a bullish correction has taken the pair through resistance at the top of a falling channel established from the swing top in November as well as the 1.6171-1.6249 congestion region. We will play it safe and book profits on the short position at this point. However, we retain a bearish bias on GBPUSD and will be looking to re-establish short again after the current upswing runs out of momentum.
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