GU long with trendchannel and 78,6% - Atleast 1:5 RR (wide SL)
GBPUSD is lining up with a very good long on both 1h and 4h chart. We have our trendchannel with 2 test of low and 2 test of high, with a possible bounce for 3rd test of low, plus a 78,6% fib retracement in almost perfect allignment.
I've decided to go with a wide SL below the prev swing low, but this is ALOT of room to work with, and you could easily narrow it down (since the trendchannel SHOULD be respected).
For our target, then we have resistance overhead at 1.467, which looks plausibel in relation with the trendchannel
I've decided to go with a wide SL below the prev swing low, but this is ALOT of room to work with, and you could easily narrow it down (since the trendchannel SHOULD be respected).
For our target, then we have resistance overhead at 1.467, which looks plausibel in relation with the trendchannel