I've always said that if GJ was a human being I would punch them repeatedly in the face. So here's the deal, these pound pairs looking downside. At this point, I'm stop in profit on Gchf and may get taken out. GJ retraced 50% of its first wave and did complete a correction. But it's hard for me to believe GJ could be this easy... Maybe it is. If it did a 1-2 wave count (which completely checks out) then those trend fib extensions would be your targets. I do like the fact that it is at a trend line
I could see them blast through, but in my opinion this is not a pair you enter during low volatility
, especially considering it produced a nice setup and halted. This is a london session trade in my opinion, but I would only do it by sell stop order. If it goes right now fine by me I'm not in it, I got plenty of risk free trades rolling. I will be asleep later, but I would recommend to you Londoners keep an eye out for these pound pairs, especially this one. It would be lovely, at least for you, if they slowly drove up price this evening in a 3 push stop hunt. Volatility
picks up, trade the breakout by stop order.