GBPUSD is currently in this upwards channel but my bias is still to the downside long-term.
Red thick line: Main up trend line
Red dotted line: 4hr up trend line
Price has tested the backside of the daily up trend line and bounced off nicely. Expecting price to go back towards the 4hr up trend line.
Entry @ 1.3075-1.3100
TP @ 1.3000
After we hit the bottom of the channel we will reevaluate to see how price reacts to this level to continue trading.
Good luck and let me know if there are any questions.
Charles V
CVFX Management
Trading made Simple
Red thick line: Main up trend line
Red dotted line: 4hr up trend line
Price has tested the backside of the daily up trend line and bounced off nicely. Expecting price to go back towards the 4hr up trend line.
Entry @ 1.3075-1.3100
TP @ 1.3000
After we hit the bottom of the channel we will reevaluate to see how price reacts to this level to continue trading.
Good luck and let me know if there are any questions.
Charles V
CVFX Management
Trading made Simple
Comment:
TP hit for 75 pips.