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MEX_Exchange

GBPUSD profit target reached perfectly, prepare to buy

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
MEX_Exchange  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade Forex forextrading
3
0
trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade forex forextrading
Buy above 1.3006. Stop loss at 1.2954. Take profit at 1.3109.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and has reached our profit target. We prepare to buy on major support at 1.3006 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 1.3109 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is testing major support at 7.5% and we expect a bounce soon.
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