FX:GBPUSD   British Pound / U.S. Dollar
As you can see on the 1 hour chart, price has broken out of channel and dropped to pivot . We can see a bullish engulfment candle at the pivot suggesting price may be moving up to retest the channel. I am hoping to get a rejection at the 0.382 fib level as that is a demand zone . I will be waiting for price to see if it could move up to my demand zone and see if we see a rejection of that price level to enter the trade for a short position.


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