GBP/USD in selling levels

GBP/USD right now at the time of writing is in good level to place a long term sell, as technically pairs going to retest the 200DMA, You can place stop orders @ 1.5665 for sell with taking profit @ 1.5040. Technically the pairs is in worse sell, it may break previous low 1.4440 towards 1.4000 area. As you know that US economy is growing day by day, they are ready to hike interest rate as soon as possible, which will boost up dollar towards 103.45 area.

GBP/USD pair already touch upper band of bollinger band in daily chart, it will be exact selling place.

I have already placed some sell trades and take profit at different levels, I think 1.54 is achievable in couple of days and this is my short term target, it may go up further but then retracement gonna start.

GBP/USD just made 4 week high 2 weeks ago and 10 week high today. When it makes 20 week high and is above 40 week MA im long.

Yes, its been moving higher and higher and shorting may really be the worst thing to do if not set with proper stop loss. I had to lose some money when i shorted @1.5620 as the stop hit 1.5690 level :frowning: