Here's the issues to take a SHORT:
1) Double top, both on 15M and 1H
2) CCI signaled SHORT, MACD cross signaled SHORT
3) GBP 1st GDP did not hit expected.
4) No more news for GBP this week, which could indicate a breather session.
5) Everyone is looking for a SHORT, especially after the steep LONG climb (51 degrees!) A guest commentary on DailyFX, which is posted on your Tradingview headlines for GBPJPY, wants to take a SHORT between 173.385 and 172.87.
If you want to go SHORT, go when RSI hits about 60.
However, here's why I'm staying LONG:
1) Everyone is looking to go SHORT. =P Maybe some cheap SHORT SL's for some banks to gobble up. (I'm kidding, I don't know whether banks look for 'cheap' SLs)
2) JPY monetary statement is coming out today sometime (looking for a clue from the JPY PMI which comes out before statement)
3) Though GBP did not hit expected of 0.9%, the actual 0.8% is higher than last reported 0.7%
The price may break the steep LONG climb, but I'm holding out whether RSI will break a generally placed bull trend line. TP stop will move up along closest rising dotted Yellow. Aiming for Danske's target of 173.95.
1) Double top, both on 15M and 1H
2) CCI signaled SHORT, MACD cross signaled SHORT
3) GBP 1st GDP did not hit expected.
4) No more news for GBP this week, which could indicate a breather session.
5) Everyone is looking for a SHORT, especially after the steep LONG climb (51 degrees!) A guest commentary on DailyFX, which is posted on your Tradingview headlines for GBPJPY, wants to take a SHORT between 173.385 and 172.87.
If you want to go SHORT, go when RSI hits about 60.
However, here's why I'm staying LONG:
1) Everyone is looking to go SHORT. =P Maybe some cheap SHORT SL's for some banks to gobble up. (I'm kidding, I don't know whether banks look for 'cheap' SLs)
2) JPY monetary statement is coming out today sometime (looking for a clue from the JPY PMI which comes out before statement)
3) Though GBP did not hit expected of 0.9%, the actual 0.8% is higher than last reported 0.7%
The price may break the steep LONG climb, but I'm holding out whether RSI will break a generally placed bull trend line. TP stop will move up along closest rising dotted Yellow. Aiming for Danske's target of 173.95.