Swing trade, Long GBPUSD Long
British Pound/U.S. DollarFXCM
Description
⋅ Elliot wave + Fibo retracement levels
Elliot wave 5 could possibly have end with the "flash crash of the GBP"
Looking for a 50% retracement of the down move to 1.34 level, which coincides with a long term downtrend stretching from 2014.
Trade Idea : Long GBPUSD @1.238
SL : 1.2285
TP : Open, targeting 1.34, (May TP if bearish TA or fundamentals kick in)