GBP long setup

2 Jan 2017

• Price broke descending channel with a re-test before making a higher high
  
• Expect price to come back down to 1.2263 which is support plus it is between my fib area
  
• Could see price head to the 1.250 range as there is high resistance with descending trend line confluence, which happens to line up with the 161.8% fib extension level
  

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