linyoulee
Long

Pound where to Go

FX:GBPUSD   British Pound/U.S. Dollar
31 0 0
As we can see from the D1 chart of GBP/USD             Dollar, the market show uncertainty after breaking the 1.58128 resistance. In the H4 chart, as we can see double top had been formed with weakened uptrend impulse. However this situation create a perfect entry confluence for many of the trader. (The circling part which consist of 38.2 retracement, trendline support, and also the key resistance support). We can expect long for the target again to the level of 1.61748 in long term. We can have a narrow stop loss loss at the level of 1.56915, probably giving us a nice 1:3 risk reward ratio. Speculative trend can be attempt.

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