GBPUSD MAJOR CHANNEL BREAKOUT

Not much to say about this one except price has been travelling in an ascending channel , however price has recently broke out to the downside, we believe price is going to come back up and retest the channel at the 0.618 retracement level of the previous impulse move before making its way down to the TP.

IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.

Trade active:

PRICE HAS GONE UP ALL THE WAY TO HIT THE 0.618 RETRACEMENT LEVEL, TRADE HAS NOW BEEN ACTIVATED. PRICE IS AT THE NNEWLY MADE SUPPORT READY FOR THE DROP....

Trade closed: stop reached:

HIT SL