Selling Opportunities in GBP/USD - Wednesday, October 5, 2022. Orders Cancelled Thursday, October 6, 2022

Chart GBPUSD, H1, 2022.10.05 08:58 UTC, Blueberry Markets Pty Ltd, MetaTrader 4, Real

In the immediate aftermath of the newly installed Chancellor of the Exchequer Kwasi Kwarteng's decision to cut taxes for the rich on September 29, GBP/USD practically fell apart having fallen to an all-time low at 1.0358. This week, UK did an U-Turn and abolished this tax cut and GBP/USD surged to 1.1495 this afternoon. There are signs that this counter-trend rally is losing momentum. If so, this presents a selling opportunity.

 

TRADE IDEA

#1 Limit Sell @ 1.1437 (Oct 5, 2022 16:47pm) Target @ 1.0400

#2 Limit Sell @ 1.1451 (Oct 5, 2022 16:48pm) Target @ 1.0400

#3 Limit Sell @ 1.1470 (Oct 5, 2022 16:49pm) TBA

#4 Limit Sell @ 1.1482 (Oct 5, 2022 16:50pm) TBA

All Stops @ 1.530