DuncanForex

4hour GBP USD Long Trade off Support and 4hr Inside Candle Doji

Long
FX:GBPUSD   British Pound / U.S. Dollar
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2
GBP is proving strong even after slightly lower CPI . Strong dollar news of PPI and Yellen could not get it to close lower than 1.2460. Recent close of the last 4 x 4 hour candles were higher than the previous low from 10th Feb and a new high was created at 6am this morning.
Weekly candles are bullish suggesting a double bottom was created.
Squeeze pattern starting to appear on 4hr - potential to go either way, however I am long based on Weekly double bottom .


SL under 1.2435
Entered at 1.2470
TP of 1.2540
Further TP of 1.2680

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