Hello!
This is beautiful opportunity to go long GBPUSD.
Resistance becomes support and Risk/Reward is well over 1 to 5 to the 1st target
If we test 61.8 level and get rejected form there I will buy to 1.2650 and If we fall through then the next level is 78.6 which gives us Chyper pattern.
I personally open to positions and will trail 2nd position if we get break above 1.26 levels
We have DXY also reached 61.8 on a higher time frame so dollar pullback could be expected.
Manage the risk! Size right!
This is beautiful opportunity to go long GBPUSD.
Resistance becomes support and Risk/Reward is well over 1 to 5 to the 1st target
If we test 61.8 level and get rejected form there I will buy to 1.2650 and If we fall through then the next level is 78.6 which gives us Chyper pattern.
I personally open to positions and will trail 2nd position if we get break above 1.26 levels
We have DXY also reached 61.8 on a higher time frame so dollar pullback could be expected.
Manage the risk! Size right!