GBPUSD 2-3 day target

FX:GBPUSD   British Pound / U.S. Dollar
The 0.786 level holding as nice resistance from the 'flash' crash seen on the 7th Oct.

With such a big move there is likely to be a following test of support before a meaningful retracement to the upside, or a further break to the downside. It's not currently possible to determine which way prices will go, but it is highly likely the initial move down to support will be made!

This trade has a 1 : 2.12 risk reward, with the stop loss placed at a psychological level (1.25500), as well as being significantly above the 0.786 retracement level in case of slippage in the case of early morning liquidity where prices may be fairly volatile.

Holding time: 1-3 days.
Comment: Profit booked at 1.22.

Now time to sit out and let prices dictate the next move before hopefully jumping on.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out