short term long GbpUsd

FX:GBPUSD   British Pound / U.S. Dollar
193 6 7
Pound retraced to .78 fib 1.6523 - looking for compliment fib below 1.27 at 1.5920. Area is of interest as a demand zone . Return 1.63 supply area

It is a nice position but i think your target is to high.. i think this pair will not go higher than 1.61.Your analysis is more based on the fact that the usd idex will go down rather then having a comparison between GBP and USD. The macroecomic indicators from GBP are way to bad, and the market sentiment will not allow such a big move... for now
kate25 OLAOLA
You are correct the fundamentals come first.
might i add that now is not the time to go long nor short. Now is the time to take the carry trade.
kate25 TheBlanco951
I still am worried it never touched bottom trend
PRETTY good stuff! i've been tracking this trade for a while too . . .

Never a good idea to buck trend - however its time for a retrace being beginning of month
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