The GBPUSD made that move from the low we were looking at three weeks ago.
Although we came close to 1.47, I like to see a minor consolidation Monday to buy the continuation. I will be trading this from lower time frames to increase my risk/reward. Although in terms of pips 1.47 is not far away, risk/reward and structure is great and that's what matters in my trading. So let's see whether we get that minor consolidation for a buy trade opportunity.
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Although we came close to 1.47, I like to see a minor consolidation Monday to buy the continuation. I will be trading this from lower time frames to increase my risk/reward. Although in terms of pips 1.47 is not far away, risk/reward and structure is great and that's what matters in my trading. So let's see whether we get that minor consolidation for a buy trade opportunity.
www.timstuyts.com
www.facebook.com/timstuyts
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Keep in mind that this pair can easily extend from here towards 1.47. However once we hit that target I will also focus on a possible reversal.
updates will follow.