Entered long @ 1.1277. Stop loss at 10 pips, with a profit target @ 1.13345. Non farm coming in, and it could fuel the move nicely if stop is not taken out. Reward to risk on this trade is 13:1.
Had a trade setup before this for GU short. However, based on price action after the Fed Interest rate we saw price wick to the top @ 1.15647 without taking the high @ 1.15663 (1.6pips). Due to where we are in the week, I am considering the odds of a pullback to take out the high at 1.15647 and potentially end the week strong for a stronger higher move next week....
With price failing the 1.1570 level, GbpUsd have seen lower highs and lower lows indicating a market structure break. Potential downside is to 1.1150. Potential short entry at 1.1510.
