GBP/USD - BEARISH RSI DIVERGENCE | LOW RISK / HIGH REWARD

10 giu 2020

• GBP/USD has rallied for weeks and is very over-extended
  
• RSI Divergence is a fairly reliable indication for a trend reversal
  
• Confirmation of RSI Divergence suggests that it is safe to open a short position
  

Daily Chart

[I]Targets & Key Levels[/I]


VERDICT: GBP/USD due a correction and confirmation of bearish RSI divergence suggests opening a short position at current levels.

11 giu 2020

Trade attivo

Price has moved as expected and has moved 120 points.

This will be a swing trade (medium-term trade) so this position is expected to be held for potentially weeks until target(s) has been reached.

Stop has been adjusted and will be trailed as price action progresses further.

19 giu 2020

Trade chiuso: obiettivo raggiunto

Full position closed @ +425pts.
Awaiting next opportunity to short after an upwards correction of sufficient magnitude.