After the news release of the BREXIT deal being delayed, GBP has been showing momentum. After my chart analysis I am deciding to wait for a potential buy to take us up to the upside.
Price has previously broken resistance as you can see by the green box, after this break you can see that price action has respected this area and is now support, along with this, price has also respected the white trendline indicting a strong , because of this I am looking to go long. I will be risking 1% and looking for a 3% return.
You may wish to enter a long position at market open however we may see a slight retracement to the the green area which I have marked or potentially the trendline, this is why I have set my entry at this area and my SL below.
Feel free to use this idea (PLEASE ENTER AT YOUR OWN RISK!)
PLEASE FEEL FREE TO GIVE THIS IDEA A LIKE AND ALSO FOLLOW US AS IT IS MUCH APPREIACTED!
STAY SAFE AND HAPPY TRADING.
STOP LOSS - 0.90075
TAKE PROFIT - 0.91075
TO EVERYONE THAT ENTERED THIS TRADE AT MARKET OPEN ENJOY PROFITS!!