OANDA:GBPUSD   British Pound / U.S. Dollar
I have been waiting for this bullish move up for a few days now and it is finally here. We saw it was oversold on the 4 hour and 1 hour. We saw that it didn’t break the trendline I set in place and people took profit if they used the fib Retracment tool. This means if people aren’t selling, the bears lose that momentum they had. Now the bulls are winning. I do want to clarify I am a bit worried about this point on the move up that I have marked with a white trendline. I would say proceed with caution as we may see a pullback. However, I still believe in the trade.

Trade closed: target reached: 112 pips secured! Now we wait foe the next setup

Comments

@TheGiovannie Well done...again! Wonder if the bears will get back in control at the 1.39 resistance level or will be bulls break through...
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@jollymm, thank you. My guess is it will push down again but I need more time to see what price wants to do.
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