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JeffMzee
May 30, 2016 4:30 PM

TECHNICAL GBPUSD LONG Long

FX:GBPUSD60
British Pound/U.S. DollarFXCM

Description

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  • Pair is breaking out of the temporary correction after finding support at the 50.0% Fib of Wave C to D at around 1.5900. (wave labels are arbitrary in this case).
  • Further upside expected, especially on reduced Brexit fears.
  • Risk-on theme will also keep the GBP supported.


Target and Stops on chart.

Comment

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Half of position profits booked at 1.4700.

Trade closed: stop reached

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GBPUSDGBPUSDbrexit
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