Open trading account 
gbp/usd short trade initiated at 1.345 hits the target of 1.3349. worst than expected uk inflation data caused the pair to accelerate downwards heating the target. Along with gbp/usd gbp/jpy also come down. Here is the chart.
Amogh's Blog
Short GBP Election trade going on.
I got couple of profitable trades selling GBP with the result of UK Election. I sold gbp/jpy at 140.47 and booked profit at 139.70 and similarly sold gbp/usd for 1.2693 and exited at 1.2650 with a profit of 42.8 pips. There was an instant bounce in price so I am waiting it out to initiate another short trade at this point.
GBP/USD has started to turn downwards again.
GBP/USD has started to turn downwards again. My GBP/USD short order entry was executed at 1.2423. The trade was closed at 1.2400 after the support is held at 1.2380. The price is starting to bounce once again. It may return back to 1.2470 or it may resume its downward spiral to 1.2340. I wait now for the price to reach either extreme to initiate next short trade.
GBP/USD is trying to break the top of the range
GBP/USD is trying to break the top of the range. It is right now at 1.2338. If this price level onf 1.2340 - 50 is cleared price may rise to 1.2470. On the contrary, the support at 1.2100 is getting very strong now. RSI is slowly reaching to oversold territory but there is plenty of room for further rise.
GBP/USD has broken the top range of 1.2330
GBP/USD has broken the top range of 1.2330. Now it remains to be seen whether this price is sustainable. If this price fades away quickly then it is not worthwhile to go long but if this hangs on its worth taking a little risk here and going long for a short term. I have my long order placed at around 1.2355. Lets see how it turns out to be.
GBP/USD has come back to the top of the range.
GBP/USD has come back to the top of the range. It is right now at 1.2228 may further rise to 1.2300. At this point it will be very good point to sell. However, the price is starting to roll and this may be good level to take risk for a small position of short trade. But once the support line of 1.2100 is broken price is going to accelerate towards downside.
GBP/USD is right in the middle of range at 1.2190
GBP/USD is right in the middle of range at 1.2190. It takes some kind of significant pressure from sellers to break the strong support line of 1.2100. RSI is moderated now. It can swing in either direction now. If the price swings up to clear 1.2300 level it might go up to 1.2470. But strong resistance is there at 1.2340 before that. However I am still biased towards downward price action and expect to break the strong support of 1.2100
What does it take to break the strong support line of 1.2100?
What does it take to break the strong support line of 1.2100? The price came as close as 1.2110 but bounced back again upto 1.2210. Now it is at 1.2183. Once this support line is broken surely the price is going to accelerate downwards. The range of 1.2100 and 1.2300 is going on for quite a while now. It is due to be broken. RSI has come out of oversold territory.
GBP/USD is back at 1.2162 level
GBP/USD is back at 1.2162 level. Will it break the strong support at 1.2100 which was held repeatedly in past couple of tries. If this level is broken heavy selling momentum is expected to rise. I am eagerly waiting for the short trade on the clear break of support line of 1.2100.
GBP/USD is still caught in a range
GBP/USD is still caught in a range of 1.2100 and 1.2340. Currently it is at 1.2221 and guess going back bouncing towards 1.2340. If the resistance 1.2340 is broken the price can go up towards 1.2470 level. On the contrary if the price breaks the support of 1.2100 it may quickly go down to 1.1900 level or area.