GBPUSD Short term mean reversion

Opportunity for a short term mean reversion play as a low UK PMI number has caused an extreme move in GBPUSD.

Entry levels under 1.26400 look promising for a nice risk/reward play

Heavily oversold on RSI, extreme ROC, markets may have overreacted short term and potential for reversion to the mean.

Trade closed: target reached:

Successful trade, small drawdown and then a solid trend back up, idea worked perfectly 👍👍