Price trading within potential falling wedge which currently moving around the pivotal zone of a very big support.
Considering the confluence of the support and the bottom trendline of the falling wedge, we do believe GBPUSD is nearing the end of its immediate bear cycle.
The RSI also within strong oversold zone.
More update to follow, stay with the thread.
Trade active
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The bounce is happening as expected.
Trade active
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Trade closed: target reached
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First target achieved
Trade closed: target reached
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We closed our Long position here, it has been a strong swing with over +2580pips.
Why not bounce after hitting 1.28 at 2025? Why go higher? Trend starting at 2008 doesn't look like it's going to reverse. There has to be substantial reason to go past 1.28
MaureenRovitaSwanston
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@c5x For the house to succeed, it needs a lot of losers. We are those losers.