ForexWeeklyAnalysis
Long

Pending Long GBP/USD mid 1.65XX region

FX:GBPUSD   British Pound/U.S. Dollar
85 2 1
Wait for price to hit the lower trend line in the mid 1.65XX region for a possible long, this is in line with the 50% fib level, coming in at 1.653X.
Target: mid 1.67XX region, which will be approx 200 pips profit.
I would consider risk 50 to 100 pips on this trade for a possible 2:1 or 4:1 risk reward.
As time goes on, the entry region (lower trend line) moves lower and lower, so just be wary of that..
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Posted an updated chart here:
Pending Long GBP/USD mid 1.65XX / 1.64XX Region
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