jianhua85

GBPUSD long on a supporting zone with multiple confluence

jianhua85 Updated   
PEPPERSTONE:GBPUSD   British Pound / U.S. Dollar

Great supporting zone for a long order.

Oversold on RSI with price consolidating for the past 3 days.
Multiple confluence: On the ascending trend line, on 200 EMA 4hr, on a supporting supply zone. Long term trend is still an uptrend
DXY is just broke support and moving downtrend.
Trade active:
once break 1.29, good to set Break Even and let it run.
Trade closed: stop reached:
TP1 gives us more than SL on remaining stop.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.