GBPUSD Simple fibonacci and structure trade - Long

I let the chart do most of the talking.

But the main ingredients in this setup is fibonacci retracements to predict entry, target and stops together with previously tested structure areas that is of interest for building this case.

Oversold condition together with the 0.618 is my signal.

Lets hope we get filled, and lets see how this plays out.

Trade active

Trade closed: stop reached:

We did see resistance, as we expected, but the bulls were not strong enough this time. Trade closed!