GBPUSD profit target reached perfectly, time to start buying
Buy above 1.2703. Stop loss at 1.2596. Take profit at 1.2886.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and has reached our profit target. We prepare to buy above major support at 1.2703 (Fibonacci extension, Fibonacci retracement, horizontal pullback support) for a push up to at least 1.2886 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) sees major support above the 26% level where we expect a bounce from.
Reason for the trading strategy (technically):
Price has dropped absolutely perfectly from our selling area and has reached our profit target. We prepare to buy above major support at 1.2703 (Fibonacci extension, Fibonacci retracement, horizontal pullback support) for a push up to at least 1.2886 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) sees major support above the 26% level where we expect a bounce from.