Here are the reasons for GBPUSD Short trade:
Note: 1) and 2) are the weighted average charts. To replicate them see the title of the screenshots.
1) It has been a month since GBP does not go higher and just recently it made a false breakout of the key resistance level and long-term wedge
I expect it to at least visit the lower band of the wedge before any other action. This is a great motivation for our GBPUSD Short trade.
2) Since late Feb also USD has been moving sideway and just recently it made a false breakout of the key support level and now it is continuting higher. Again this is a great help for our GBPUSD Short trade.
3) As you know FTSE 100 and GBP move against each other. See the Inverted H&S on FTSE 100 followed by a break of the neckline. I expect FTSE to go higher which is a futher confirmation for cheaper GBP. Again good for our GBPUSD Short trade

4)Finally look at this 10 Yrs US Bond. As expected after retesting the red line bounced and now it is continueing higher. That is why we see stronger USD and again this is great for our GBPUSD Short trade. Unlike other charts this is weekly chart
Note: 1) and 2) are the weighted average charts. To replicate them see the title of the screenshots.
1) It has been a month since GBP does not go higher and just recently it made a false breakout of the key resistance level and long-term wedge
2) Since late Feb also USD has been moving sideway and just recently it made a false breakout of the key support level and now it is continuting higher. Again this is a great help for our GBPUSD Short trade.
3) As you know FTSE 100 and GBP move against each other. See the Inverted H&S on FTSE 100 followed by a break of the neckline. I expect FTSE to go higher which is a futher confirmation for cheaper GBP. Again good for our GBPUSD Short trade
4)Finally look at this 10 Yrs US Bond. As expected after retesting the red line bounced and now it is continueing higher. That is why we see stronger USD and again this is great for our GBPUSD Short trade. Unlike other charts this is weekly chart
Uwaga
150 pips profit so far. 300 pips more? :)Uwaga
330 pips in profit. 115 go go as promised.Uwaga
Here is an update on GBPUSD Short trade. A) FTSE 100 is up for 0.23% which signals cheaper Pound.
B) Beautiful H&S on weighted average Pound versus other 7 major currencies and today it visited the Neckline. It is a further confirmation of the H&S formation. I think tomorrow we will see cheaper Pound once it made a lower low
Just see how much room it has to get to the lower band of the major channel
C) Pound futures also heading lower by 0.25% despite the fact that weighted average Pound made a marginal increase. Therefore GBP depreciation has been continuing on Pound futures.
D) UK 10Y Gilt which moves against the Pound value also rising up with no respect to the EMAs. Again that shows the Pound weakness
E)UK Bonds Yield also has been dropping by 1.11%. Again signalling cheaper Pound.
F) I only send one chart for USD as there is no doubt about USD strength and all charts sending the same messages. This USD weighted average. Enough room for us to get to our target. Right? :) Thanks,
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