8 June: GBPUSD drop incoming

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.

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Trade closed: target reached


I have the same viev on GBPUSD
nice work!
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 % !