As per my previous post, having cleared the last bullish fibo uptrend at the 1.618 level, GBPUSD has turned very bearish in the short term.
After hitting a low of 1.2905, they have retraced back above 61.8% level of 1.3282.
With stop loss at last high of 1.3520, Risk / Reward ranging from 4 - 5 X depending on entry level, profit target at 1.618 level of 1.2296.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
After hitting a low of 1.2905, they have retraced back above 61.8% level of 1.3282.
With stop loss at last high of 1.3520, Risk / Reward ranging from 4 - 5 X depending on entry level, profit target at 1.618 level of 1.2296.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Trade closed: target reached:
Eventual full profit taking at Fibo 2.618 level as it breached below 1.16867.