A long opportunity with great risk reward on the GBP/USD

FX:GBPUSD   British Pound / U.S. Dollar
547 5 10
Im looking at a Long opportunity on this pair which could offer great risk reward ...

Around the 1.5400 even handle is solid trend line support that has been tested a number of times, 0.382 and 0.618 Fib retracments and a 1.272 Fib extension...

Ive highlighted on the RSI a possible oversold area as price still has 100 pips or so to move...

If we get to this zone i will be watching price carefully to see if we can get a good entry as it could have a potential move back up to trend line resistance around the 1.6100 which would be a more long term position...

Shorter term targets at around 1.5650 is still a solid 250 pips.

Any likes, comments and or constructive critisism is welcome! Your support means alot!
Nice post! I like the look of this one too. I'm looking for a triangle breakout to get in on the trade.
+1 Reply
Thank you for your comment! Your support means alot! I think if price gets there it will be a great opportunity! Have you posted an idea on a triangle breakout?
arbhunt SmartTradingFX
Just posted the breakout triangle. Not quite as detailed as yours but certainly backs up your idea. Thanks for the great post and confirmation!
+1 Reply
Your welcome! Anytime! Il check it out now!
Why not. it might be a good entry!
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out