Mahtab_Tradia

GBPUSD In a Reversal Pattern

Long
FX:GBPUSD   British Pound / U.S. Dollar
In Weekly time frame, there is an uptrend and price is at the lower band of the ascending channel. In H4, price has reached to the upper band of the descending channel and is above 1.28 which is a strong resistance level.A double bottom pattern has been created which is a good reversal pattern at the end of a downtrend. IF the neckline broken out to the upside and price entered the new channel, wait for the price to pull back to the neckline in 30min to enter long with the possible TP at 1.399 and SL at the last low.

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