GBPUSD looks good for a long here even though the dollar showed its claws this month. Normally DXY is kinda strong till March but i think the FED will back down on their hiking cycle if the data cools off in the coming months. Also with the Feds starting to hike, other CB's will do it also so there will be a lot of volatility in the coming months with the dollar subdued if we see better data from the other continents also. Getting back to GBPUSD from a technical point of view this looks better for a long rather than a short into support. There could be another sweep of the floor towards 1,33830-ish area and then bounce back. We'll see how the monthly closes and probably 110 pips correction should be more than enough to give you a good RR in the short term
Trade active:
Trade is going as planned.I am planning to take some partial profits here leaving the rest to run.
Comment:
I am TP-ing 85% of the trade here and leaving the rest to run as long as possible. Everything went according to plan.
Trade closed: target reached:
Great trade. Took the last of the profits. Will wait for a pullback now