Possibilities of a potential trend continuation trade on GBP/USD with a gartley to the downside. The pair broke through 1.4496 zone, pulled back and continued moving down. The pullback has now formed a good point of resistance which I think price will come back and test depending on how NFP and other news plays out. If we can see pricing testing this level we could have a reversal at the completion of the D leg.
I will only be entering if there are oversold conditions and targets will be at 0.382 and 0.618. with good R:R ratio.
I will only be entering if there are oversold conditions and targets will be at 0.382 and 0.618. with good R:R ratio.
Order cancelled:
Trade was not taken due to the spike from news event.
