MrVolcano
Long

GBPUSD - Morning Star at Support and Stoch buy signal

FX:GBPUSD   Pound Sterling/U.S. Dollar
186 1 5
Seeing bullish signals at the bottom of a nice range with some good upside.

A morning star signal on the D1 chart with a stoch buy signal. Price has broken through the short term trend line resistance and looks like it is holding as support on the 4h and 1h timeframes.

I would prefer a tighter stop loss around 1.29 but with 3 major USD news events later today, a wide stop loss would be advisable.
Trade closed: stop reached: Unfortunately brexit news over the weekend has changed GBP sentiment and price gapped down and has been heading lower ever since.
Thanks for the info. The channel looks quite strong, which I didn't follow when opening my first trade (Buy @ 1.333) on 13 September.. Hopefully the USD news won't derail current direction upwards. I need it to get back to 1.3096 to clear my position.. Trading as a consumer / retail trader isn't easy :P
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