GBPUSD is within a parallel channel and has been respecting it really well.
We are now close to the channel support and looking for a bounce. We are expecting USD weakness which would make this a great trade!
Trade idea:
Watch for price to test the channel support
For a risk entry, you can enter on the bounce.
For a safe entry, watch for the bounce and then the break of the red descending trendline.
Stoploss: below the channel
Targets: Channel resistance
This trade could be well over 300pips!
Goodluck and as always, trade safe!
We are now close to the channel support and looking for a bounce. We are expecting USD weakness which would make this a great trade!
Trade idea:
Watch for price to test the channel support
For a risk entry, you can enter on the bounce.
For a safe entry, watch for the bounce and then the break of the red descending trendline.
Stoploss: below the channel
Targets: Channel resistance
This trade could be well over 300pips!
Goodluck and as always, trade safe!
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