pulls back to the 50 SMA
, and the 61.8% Fibonacci retracement
level from the recent swing low to swing high. And it's forming what looks like a doji candlestick
pattern. I'm also seeing some signs of GBP strength, namely against EUR and AUD, so I figure there are enough signs in place to take a shot on this one. I'm set to go long at 173.73, with my stop at 172.33 and my target profit at the recent high at 178.48.
Continue your trading education: http://www.informedtrades.com