Picture Perfect Price Action
Price has broken a old resistance zone and now has retracted to 38.2 Fibonacci level.
I expect it to bounce off the zone and continue to push up to the next major supply zone.
Here is the play I will be taking on this pair:
PAIR = GBPUSD
ORDER TYPE = BUY STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1.36087
STOP LOSS = 1.34055 - 200 PIPS
TAKE PROFIT = 1.39279 - 319 PIPS
Price has broken a old resistance zone and now has retracted to 38.2 Fibonacci level.
I expect it to bounce off the zone and continue to push up to the next major supply zone.
Here is the play I will be taking on this pair:
PAIR = GBPUSD
ORDER TYPE = BUY STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 1.36087
STOP LOSS = 1.34055 - 200 PIPS
TAKE PROFIT = 1.39279 - 319 PIPS