TradingMax
Long

Friday take profit and such needed correction

FX:GBPUSD   Pound Sterling/U.S. Dollar
The speed and magnitude of the fall for $GBPUSD has been very protiftable for a lot of traders. However, always take care trading on Friday and today (09-Jan-2014) we might see some take profit trades to take us out of the current formations - channel an ascending triangle .

Aim for 38.2% FIB retracement of the latest fall, coinciding with the highs of the second rebound.

By the time I finished writing it started breaking out.
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