GBP/USD great opportunity (repeating double dip/top movement)
In daily chart we can see the GBP/USD is forming the 5th double bottom/top movement.
This time 1,193 seems like the support line of this movement. After the second dip on support line, uptrend may start towards to downtrend channel’s resistance which is ~1,26
Strategy: trade long on the second dip time. Stop loss will be the just below 1,193 support line.
Target: around 1,26 depending on the close of the second dip. This can make around 5,5% profit in one trade
This time 1,193 seems like the support line of this movement. After the second dip on support line, uptrend may start towards to downtrend channel’s resistance which is ~1,26
Strategy: trade long on the second dip time. Stop loss will be the just below 1,193 support line.
Target: around 1,26 depending on the close of the second dip. This can make around 5,5% profit in one trade