LDForex_

GBPUSD-Possible Strong Bullish Momentum?

FX:GBPUSD   British Pound / U.S. Dollar
-There are two ways in which we could enter this pair on which is either to enter on reversal to the demand zone
-Or either we enter at the breakout of the 1.26133.
-Either way there is strong bullish momentum indicated by the break of the ascending channel .
-The 50 EMA is also showing the bullish signals for this pair.
-We will have to wait to see how price will react to these levels and look for strong bullish candle confirmation for entry.
Trade closed: target reached:
Comment: Even though price did not reach the 23.6% fib level, the was a reaction on the demand zone and strong bullish confirmation to enter the trade. The risk to reward ratio for this trade was 1:6
This trade closed on the Friday!

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