GBPUSD back to 1.20 ?
GBPUSD has been relatively weak over the past 2 weeks. We saw a massive selloff of almost 700pips. GBP continues to show weakness over all pairs, and now that Boris Johnsohn also plans a second lockdown, it would send the GBP all the way back to the ground.
I already entered GBPUSD short, with my Stop Loss just above 1.3030 as that level is my invalidation level. An entry is still possible now as the setup, as I said, would first be invalidated once it breaks above 1.3030, and as our Corrective Pattern is broken as well. We did have a fakeout earlier the week but nevertheless, seems like price finally broke out of the rising wedge that was formed as well.
I already entered GBPUSD short, with my Stop Loss just above 1.3030 as that level is my invalidation level. An entry is still possible now as the setup, as I said, would first be invalidated once it breaks above 1.3030, and as our Corrective Pattern is broken as well. We did have a fakeout earlier the week but nevertheless, seems like price finally broke out of the rising wedge that was formed as well.
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