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Emrut

GBP/USD great opportunity (repeating double dip/top movement)

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
Emrut  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators GBPUSD britishpound tradeidea Double Bottom Double Top
6
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trendanalysis chartpattern indicator gbpusd britishpound tradeidea doublebottom doubletop
In daily chart we can see the GBP/USD is forming the 5th double bottom/top movement.
This time 1,193 seems like the support line of this movement. After the second dip on support line, uptrend may start towards to downtrend channel’s resistance which is ~1,26

Strategy: trade long on the second dip time. Stop loss will be the just below 1,193 support line.
Target: around 1,26 depending on the close of the second dip. This can make around 5,5% profit in one trade
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