ZetaLabs

8 June: GBPUSD drop incoming

Short
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Hi everyone!

Price is testing resistance in line with 61.8% fibonacci retracement and breakout of the trend line where we could see a further drop below this level. Our stop loss is placed higher than the latest high with take profit targets at -27.2% and -61.8% retracement levels.

Trade ideas posted here daily, follow for the latest updates. If you have any views on the currencies please type in the comments below, I'd love to hear them!
Trade closed: target reached

Comments

I have the same viev on GBPUSD
nice work!
Reply
Hi friend , Thank you for you Idea , We think about bullish continuation because in high time frame we can see the price is in a clear sideways area " Range " in a Bullish Channel. Usually this is an accumulation before price continue his Bias. Anyway , we like your Analysis and it can be possible because we are both in 50% and 50 % !

Reply