TomProTrader

GBPCNH-Update: Strong Upside, Hold Position #Forex

FX_IDC:GBPCNH   BRITISH POUND / OFFSHORE CHINESE YUAN
28 0 6
Traders,

Update on trade: Moving extremely well to the upside since I last posted the pair (See related ideas). Lots of pips have been made.

Strong bullish candlesticks showing a clear rounded bottom/accumulation at the lows of the range. Price hit long term Fibonacci extension expiry level before accumulation formed. Price has shown a nice shift from bear to bull demand, and a breakout of the rounded bottom range is about to occur. Nice upside to be seen.

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