GBP/USD has had a good move back up above the 1.21800 level, it now looks to be in a bullish flag. I am awaiting a break of this and then a re-test of the white line as we can see this has acted as support. Looking at the 4H time frame I would expect this to eventually get to 1.25 level as this has acted as strong resistance in the past.
I would put the stop loss below the 0.78% fib as this is in line with 27th March 2020 lows (around 1.21200 level)
I will be looking to take this some time next week, if it sets up as I see.
Constructive feedback would be appreciated.
I would put the stop loss below the 0.78% fib as this is in line with 27th March 2020 lows (around 1.21200 level)
I will be looking to take this some time next week, if it sets up as I see.
Constructive feedback would be appreciated.