GBPUSD: moving sideways, possible trade scenario
Cable strengthened last week even though Sajid Javid, the Chancellor of the Exchequer, resigned...
..since the beginning of this year GBPUSD was moving sideways with the highest price around 1.321 and lowest around 1.287.
Last week it broke above 1.30 again and it seems like it was a false breakdown below 1.2945.
I will wait for a pullback to 1.299-1.2945 price zone for joining bulls with t/p target around 1.312 (R:R at least 2.85).
Today is Holiday in USA, so the liquidity might be low.
Keep in mind that this idea might be realized in several days and opening long position in GBPUSD results negative swap.
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..since the beginning of this year GBPUSD was moving sideways with the highest price around 1.321 and lowest around 1.287.
Last week it broke above 1.30 again and it seems like it was a false breakdown below 1.2945.
I will wait for a pullback to 1.299-1.2945 price zone for joining bulls with t/p target around 1.312 (R:R at least 2.85).
Today is Holiday in USA, so the liquidity might be low.
Keep in mind that this idea might be realized in several days and opening long position in GBPUSD results negative swap.
//
Feel free to share your opinion/position via comment and follow me to stay updated.
Trade closed: stop reached