gdf_fx

GBPUSD LONGS ON ££ STRENGTH

Long
FX:GBPUSD   British Pound / U.S. Dollar
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3
Long cable off the yellow highlighted zone,

lovely channel formed to sucker in dumb money.

not much volume below the 50% retracement has me expecting a bounce around here at my key support/resistance yellow zone.

the channel breakout is a confluence and we could see a classic fake out play to sucker in weak shorts and trap them before the pound continues its rally

I am expecting dollar bulishness however we have seen over the past few weeks that when the pound wants to rally not even a strong dollar can stop it so i still see validity in this trade set up