In the , there is a buy signal though not at the oversold territory. I will place a buy stop at September 20 highs of £1.32. If price action fails to correct lower towards the 20 period MA and at the 61.8% Fibonacci level then our sell stop will most likely be activated.
This trade will be as follows:
Buy stop: £1.32
Stop Loss: £1.3
Take Profit: £1.37-£1.4
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