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GBP/USD BUY - 13/10/2017

Long
OANDA:GBPUSD   British Pound / U.S. Dollar

Yesterday GBP/USD showed a V-pattern: first the price fell on the average volume, and then it grew rapidly, with the upward price movement was on very large volume and completely absorbed the previous fall of the pair. This price movement is an excellent bullish signal.Also it is worth noting the formation of a new support level of 1.3225 - 1.3254, in which large volume is concentrated. Given all of the above facts, it is worth giving preference exceptionally to long positions for the pound. We can open long positions after the resumption of price growth, especially if before that,
it will test the level of support. A stop loss should be placed just below this level. The potential of the deal is about 150-160 points.

The bottom line: long positions are in priority.
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