Forex Technical Analysis 9-6-2016

Hello Traders,

My Forex technical trade today is a swing trade. This is on a pair that many are beginning to give a ‘buy signal’. I differ in my opinion on this pair at the moment. While the GBPUSD looks poised for further gains there are some very important elements I am keeping in mind when making my swing trade recommendation, these elements are clearly mapped out in the member swing trade video. One important point in particular is the BREXIT. How can we be sure that only after a few months of BREXIT this currency sustain the new major economic changes soon to be negotiated with the European Union? Are we ready to just sit back and think all is ok, because we got some nice job reports and a good PMI?  I I differ in my opinion, while I do not see this pair tanking much lower in the long term, I do see the GBPUSD coming back down to test the 1.3060 area in the next few months. So how do we use this fundamental information and position our trade? Well for one thing I think we should be very careful to take this trade to the long side at some of these key levels. With oil looking a bit toppy here today this may put a little more strain on this pair and help it to move lower to the 1.3000 area. To the upside we have the round number 1.3500 to be concerned with. I am placing my trade to the short side here, and will post key levels and areas for trading in the Forex Trading Room members section.

gbpusd-swing-trade

Regards,
Gerard

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