**Forecast – BEARISH **
Date Posted: 18 December 2019
Currency Pair: GBPUSD
Current Trend: UP
Forecast Move: DOWN
Key Tech Level: 1.3100
Potential Opportunity
Trade Action: SELL
Stop Loss 1.3138 -50 pips
Entry 1.3088
Take Profit 1.2738 +350 pips
Outcome:
Chart & Forecast Details
Sterling couldn’t have had a better outcome from the recent election. But all that positive euphoria has disappeared as the reality of a no-deal Brexit looms. The fact that UK PM Johnson is talking about finalising the deal by the end of 2020 has traders unwinding all long GBP positions.
Key Trade Day: Wednesday 19th Nov – UK CPI
CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.
Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD
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About the Author: Brad Gilbert
Brad has over 25 years of FX trading experience. Prior to setting up T4T in 2009, Brad worked for Citibank, Commonwealth Bank of Australia and Toronto Dominion Bank. He was Chief FX Dealer of some of the biggest FX teams in Sydney, London & New York. He has also worked extensively through Asia in Japan, Singapore, Hong Kong and Vietnam
The bottom line: Trading involves risk. Past performance is not indicative of future performance — nothing here is financial advice, and no outcome is guaranteed.
Written by Brad Gilbert, Founder & Head Trader at Traders4Traders — 36 years of institutional FX experience, mentoring 1,000+ traders since 2009.
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