Thursday, August 18, 2016

British Pound Set to Soar

British Pound - GBPJPY

British Pound - GBPNZD

The British pound has been getting pounded since Brexit but a bottom has been formed and a sharp rally is near. I have two confirmed buy signals on the daily charts, so a big trade is in order. The pairs with confirmed buy signals are the GBPJPY and the GBPNZD.

GBPJPY entry at 131.72 with profit target of 139.00
GBPNZD entry at 1.8061 with profit target of 1.8800

I only have catastrophic stop losses in for both as I want it to have room to run for the next few days or weeks without constantly getting stopped out from over-trading and overthinking the move higher.


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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.

2 comments:

T J33A said...

This was a great call. Hope you made some dosh off this!

Todd said...

Thanks, I did well on the trade - yes. It was good timing as the downtrend resumed shortly after I exited.

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