TradingView
Emrut
Aug 17, 2019 3:10 PM

GBP/USD great opportunity (repeating double dip/top movement) Long

British Pound/U.S. DollarFXCM

Description

In daily chart we can see the GBP/USD is forming the 5th double bottom/top movement.
This time 1,193 seems like the support line of this movement. After the second dip on support line, uptrend may start towards to downtrend channel’s resistance which is ~1,26

Strategy: trade long on the second dip time. Stop loss will be the just below 1,193 support line.
Target: around 1,26 depending on the close of the second dip. This can make around 5,5% profit in one trade
More