GBPUSD Short and Long Trade Setup

Our latest GBPUSD Trade Idea was a LONG trade based on Bullish Harmonic Pattern and we have reached our first target at 1.33000.

Triggered by the last week’s BoE Rate decision, Cable hit 1.33150 and pulled back almost 120 pips.

Price tested Fibonacci 50 % of the latest XA move. Currently, it is trading at 1.32240 Fibonacci 38.2%

If the price breaks below 1.32300, 1.32000 ( Fibo 50% ) and 1.31800 will be the next targets.

A bullish harmonic pattern might be completed at 1.31400 – 1.31300 regions. We will look for a long opportunity at the area of interest as mentioned above chart.

We will publish short and long trade ideas for Premium Members as soon as they are executed.

Comment:

Now we see an ABCD correction

Trade closed: target reached:

Short Trade reached the target zone.