GBPUSD DAY TRADE

THE CABLE JUST BROKE A BIG SUPPORT THAT WAS HOLDING FOR THE LAST 3 WEEKS REPRESENTED BY THE BLUE LINE

ON A HOURLY CHART WE SEE A BEARISH TREND WITH A BEARISH MOVING AVERAGE

TIMING ON 15 MIN CHART WHEN PRICE HITS MA 20 FROM BELOW

FIRST TAKE PROFIT : 1.22

Comment:

ONCE THE FIRST TP PROFIT IS REACHED I AM CLOSING HALF OF THE POSITION AND LOWERING THE STOP LOSS TO ENTRY POINT

THE MARKET WILL GIVE US AN OPPORTUNITY TO REINFORCE THE POSITION IF CONDITIONS STAY OPTIMAL

Trade closed: target reached:

1.2 was reached