Long GBPUSD on a bounce off purple trendline. Target 1 = 1.2576, Target 2 = 1.2705, Target 3 = 1.2910. Stop loss is 1.2450.
Use the red trendline as a gauge on the strength of the move i.e. if GBPUSD moves past red trendline with ease, then targets 2 and 3 look to be achievable.
Use the red trendline as a gauge on the strength of the move i.e. if GBPUSD moves past red trendline with ease, then targets 2 and 3 look to be achievable.
Comment:
Target 1 has been achieved. Target 2 looks set to be taken out by today (see 4 hourly chart update). Target 3 is revised to 1.2930 based on the daily chart. Let's see price action on 4 hourly to see if this can be achieved.
Comment:
Long Gbpusd. Stop is just below low of the day at 1.23365. Target is 1.2410 and then at 1.2440.
Comment:
Targets hit. 25% remaining position now has a 25 pip trailing stop loss.
