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GBP/USD UPDATE: SHORT THEN LONG

Here is an update on GBP/USD

RECAP:

In our previous analysis GBP/USD was trading at 1.39600
We were bullish on the pair but cautioned some downward due to bullish DXY
The pair triggered our Sell stop @ 1.39200 before a quick reversal forcing us to swing & also open more sell orders
The pair then hit highs of 1.40100 which triggered our Buy Stop @ 1.39800 & hit our TP @ 1.40
with our Sell Stop active the pair then fell due to Fed Chair Powell Speech
& hit our Sell Stop TP @ 1.39
We have now closed all of our orders banking us over 9000 pips over 20 positions on the pair

WHAT TO EXPECT:

Currently @ 1.38200
We expect the pair to test next resistance at 1.37800 before a reversal back to 1.39
Long term GBP/USD is still bullish
NFP report will help guide the direction of the pair for today
Keep an eye on DXY & US10Y

OUR POSITIONS:

Currently @ 1.38200
Sell Stop @: 1.38
Sell Stop TP @: 1.37800
Buy Stop @: 1.38700
Buy Stop TP @: 1.39

Link to our previous analysis below

Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.