GBP/USD - Another BIG Buying Opportunity - 3/2/2017
Forex market can be traded profitably both ways. If you have good fundamental bias and if you can stick with the technical levels with discipline then all those pips are yours ! Good example is GBP/USD. Currently it is offering the business both ways. Ample opportunities for short sellers as well as for dip buyers. Our bias is from buy-side and you can check that out here looking at our previous trades. After grabbing 1000 pips, we are now being patient for another big opportunity.
From the look of the things, British pound is just a nudge away from a big plunge. Of course, we are not inclined to trade it from short side, so we are waiting for that gloomy phase to pass to buy that BIG dip. Currently we are looking at the price action near 1.20 with huge interest. Let's see, from where the pound wants to form a bottom. It could be 1.1500 or 1.1000. Or even lower, that we are not sure. But one thing is sure that, the dip will be swift and then ample opportunities to buy and hold watching it going 500 / 1000 pips higher.
From the look of the things, British pound is just a nudge away from a big plunge. Of course, we are not inclined to trade it from short side, so we are waiting for that gloomy phase to pass to buy that BIG dip. Currently we are looking at the price action near 1.20 with huge interest. Let's see, from where the pound wants to form a bottom. It could be 1.1500 or 1.1000. Or even lower, that we are not sure. But one thing is sure that, the dip will be swift and then ample opportunities to buy and hold watching it going 500 / 1000 pips higher.
