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Buy GBP/USD | Feb 18, 2020

Updated: Feb 20, 2020

GBP/USD has been trading in range since last week of Dec, 2019. There is no long term trend, so we have started using Range Trading Style.

Having seen recent improvement in employment, CPI and Retail Sales are expected to come out better than or inline with forecast. We have entered buy position and will look for an opportunity to move SL to BE before release of CPI.


Technical scenario: GBP/USD has been trading above MACD Predictor/Trend Predictor indicator for few days, which makes the bias bullish. ABCD100 (AB=CD) coincides with lower border of resistance zone, thus it's viable for GBP/USD to reach D if upcoming data don't disappoint.


Here is how we have entered. The screenshot displays entry and exit point.



2 comments

2 коментарі


K Trade
K Trade
20 лют. 2020 р.

Market sometimes goes crazy. If you look at the fall of EUR/USD and GBPUSD during Apr-May, 2018; this move still looks comparatively less crazy. Exit any buy positions after small upward retracement like 25-30% of last D1 swing irrespective of profit/loss. Then wait for a few days or a week to understand whether dominance of Dollar is over or not.

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James Deen
James Deen
20 лют. 2020 р.

Both of CPI and Retails Sales came better but GBP/USD seems damn bearish. This is ridiculous when market ignores significant economic data and moves crazily. USD has gone crazy already, the index is almost at 100. What next do you think of?

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