Expecting GBP to rise to test the Resistance level and possibly test between the 38 - 50% Fib levels. I am looking for bearish price action to find a sell entry point and if this happens i expect the price to fall back to weekly support of 1.63224.
Trade active
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Our Sell order was triggered at 1.65291 on the 9th August. The market retraced to the 38 Fibonacci Level and our sell order was placed in our yellow entry point zone. Will look to move SL to break even when the market reaches 1.64037
Trade active
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Move SL to Break Even. Expecting Market to retest the 1.65278 area before heading towards our targeted area of 1.63224 ( Weekly Support )
Trade closed: stop reached
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Market rallied back to where we sold. Stopped for a Break Even Trade.