GBPUSD profit target reached perfectly, prepare to buy
Buy above 1.3006. Stop loss at 1.2954. Take profit at 1.3109.
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 on major support at 1.3006 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 1.3109 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is testing major support at 7.5% and we expect a bounce soon.
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 on major support at 1.3006 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 1.3109 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is testing major support at 7.5% and we expect a bounce soon.