In my last post on this pair (see Related Ideas: " UPDATE #1:GBPUSD: Let's Try This AGAIN! Completed) I left off with prices having completed the (blue) and starting to retrace back down and hitting TP1 for +48 pips. Admittedly, I had been long up to that and said I would not play the and stay LONG but that's not what I did. PA at that point caused me to close the LONGS and go SHORT. But since I did not post on that, I will not take any credit for it. But I hope that some of you would've seen the PA at the completed and went short on it. I am posting the profits on that here for your reference.
But let's see what is happening now post-BoE announcement. There is now a COMPLETED from the recent PA after the announcement. Overall, I am still on this pair. Prices have tested the entire Goldilocks Zone and have now started to climb back up. It's a good place to take a LONG position with stops below the X point of the . Should prices go down and break the , then all bets are off and this entire post is invalidated and we may see a larger move down.
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