Possible small retracement followed by Bullish movement GBPUSD
4H time frame shows a retracement is likely. A bullish movement after the retracement is my idea, with an entry target around the 61.8 level and a respectable stop loss level, the risk/reward ratio is definitely there. Patiently waiting to see if this idea follows through - I welcome input positive and negative from people who have similar idea's on similar pairs/index's/commodities etc.
Trade closed: stop reached
Comment:
Tough one to trade. An early earlier entry could have seen a smaller profit being taken, however if it was held (more then likely) it would have been stopped out. The downward retracement remains strong in 4H time frame.