(GBP/USD Trade Setup): Last week we saw a break of 1.3 which is a huge technical level for GU that we wanted to be patient and watch before entering. Pressure is currently to the downside. This follows 5/6 of the economic data points coming in lower than expected for the pound. Events like these can be monitored in real time at the very bottom of our traders dashboard. alchfx.com/dashboard
My target for this week is 1.2750, approx. +154 pips to the downside. My entry will be determined soon, depending on the price action around these levels (including the descending trend-line and previous support turned resistance (light-blue zone)
My target for this week is 1.2750, approx. +154 pips to the downside. My entry will be determined soon, depending on the price action around these levels (including the descending trend-line and previous support turned resistance (light-blue zone)