GBPUSD Long, RR 1 : 1.65

GBPUSD weekly TF struggle to close below 1.2700, creating triple rejection on my EMA21 leaving long tail below.

Reason :
- 3x times weekly candlestick has struggled to close below 1.2700 price leaving long daily candle tail below.
- Elliot Corrective Wave in play.
- Potential to reach next resistance points :

Entry point Long : CMP or any pullback at 1.2700 area ; TP : 1.2870 (+160pips) ; SL previous low.

Risk Reward 1 : 1.65
Always remember to trade with stop-loss, market is crazy & cunning*

Transaction en cours:

GBPUSD hit 1.2856 high yesterday, move SL to BE - secure a risk free trade.

Commentaire:

TP 1.2870 hit, 1.3000 hit too!

I hope you guys enjoyed my analysis.