Order for a long position on GBPUSD. The pair has proven to accept the fibonacci levels, and as such I will enter a position on fibonacci 61.8, formed from the uptrend from February to March, and target fibonacci 76.4, formed from the downtrend in March-April. The SL will be below the previous low, which is also below the strong support which was formed in 2002. The support has also been respected three times, rejecting the price from moving through. And as such it is reasonable to believe that it would be respected again.
Order:
Entry: 1.4100
SL: 1.399
TP: 1.438
Risk/Reward: 2.55.
Order:
Entry: 1.4100
SL: 1.399
TP: 1.438
Risk/Reward: 2.55.
