gbpusd looks to have bounced of off the 61.8 fib zone. with a stop loss just below this zone we can target the highs of 1.375 as a take profit area. however 1.370 is our first targets then brining stop loss to break even and taking partial profits.
news analyses is currently 50/50 on gbpusd. if price cannot break the 1.370 area we would look to adjust to the market and change our short term bias to a bearish outlook. weekly forecast is still bullish for the pound.
news analyses is currently 50/50 on gbpusd. if price cannot break the 1.370 area we would look to adjust to the market and change our short term bias to a bearish outlook. weekly forecast is still bullish for the pound.
Trade closed: target reached:
like i explained :) 1.37 take profit achieved and then became a risk free trade. i closed out manually and shorted the market at the doji on the double top. price then sank.