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orvilleawright

GBPUSD (Daily) price broke the low of the trading range

British Pound / U.S. Dollar (FX:GBPUSD)  
orvilleawright  
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD orvillewright Support and Resistance support price-action structure-trade dailychart
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gbpusd orvillewright supportandresistance support price-action structure-trade dailychart
On the GBPUSD (Daily) chart, price has broken through the low of a trading range. It is also at the low of a down channel. Until there is a clear breakout from the range, I am looking for range rotation. Hence I am expecting price to return to the top of the range. Note that since the sharp move down (resulting from the Brexit vote) the 38.2% retracement has not been tested. This is close to the top of the range.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!

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