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Quadricolor
Sep 25, 2017 12:54 PM

GBPUSD Daily Long, bullish Flag formation and MA 200 bullish Long

BRITISH POUND / U.S. DOLLARICE

Description

There is a bullish flag formation, supported by the price above a bullish 200 MA and a break of the rising trend channel. This is all supportive of an upward price move. The risk reward ratio is at 9:1 with stop loss just under the lower channel of the flag. I don't see GBP strength against the USD, rather USD weakness against the GBP (see DXY). Trend is up, the trend is your friend!
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