joely1483

GBP/USD Long Idea - Update of previous post

Long
FX:GBPUSD   British Pound / U.S. Dollar
Still learning but looking to buy if the price bounces off the trend line and 61% fib level.

Constructive criticism and opinions and suggestions welcome!

Thanks
Trade active: Price behaving as predicted here - CHECK OUT UPDATE ADDED ON PROFILE
Trade closed: target reached: Check out the updated idea on profile

Comments

The analysis looks good but the uk is about to go into national lockdown so i expect the trend line won’t hold
+1 Reply
joely1483 jackusap
@jackusap, you could well be right but the first lockdown didn’t force price down. Looks like the market pre-empted it.

1st lockdown:
10/03 - price starts to drop
16/03 - First mention of lockdown (price held that day)
20/03 - price bottoms out & uptrend begins
23/03 - lockdown begins

I think it will become clearer tomorrow
Reply
Lockdown and the US election tomorrow will deffo have an effect great analysis though
Reply
joely1483 jacobsonmez
@jacobsonmez, do you think the US election will have a big impact? Trump winning last time didn't have much effect?
Reply
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