sugardaddyFED
Long

Buy GBP/USD on the Breakout

FX:GBPUSD   British Pound / U.S. Dollar
A conservative approach and buy only on the breakout of the downward wedge .
Entry at 1.53499 (stop at 1.52886) Risk is 61 pips
Target 1 at 1.54118 (raised stop to B/E) Reward is 61 pips
Target 2 at 1.54451 (this was previously support now resistance) Reward is 95 pips

This play is on:
- USD roll over
- BOE no change in interest rate statement
- 4 hour RSI divergence
- Short Squeeze
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