GBPUSD - 1 HOUR Trade LONG - 5 TO 1 WIN VS RISK
Hello all - DuncanForex here with another trade idea
With GBPUSD cycling higher on the 1 hour chart - although it is against the trend - I am looking to trade it back to resistance.
On the 4hour chart it has printed a nice inside bar and the high of that candle as already been broken.
I am expecting USD weakness now certainly until month end as we head to the FOMC date.
I have places a buy stop just above this area so if it does cycle higher - I will be in.
With AUDUSD heading higher overnight as planned, I am looking to add to my positions on correlated USD pairs.
thanks for looking at my idea
Duncan
With GBPUSD cycling higher on the 1 hour chart - although it is against the trend - I am looking to trade it back to resistance.
On the 4hour chart it has printed a nice inside bar and the high of that candle as already been broken.
I am expecting USD weakness now certainly until month end as we head to the FOMC date.
I have places a buy stop just above this area so if it does cycle higher - I will be in.
With AUDUSD heading higher overnight as planned, I am looking to add to my positions on correlated USD pairs.
thanks for looking at my idea
Duncan
Trade active:
TP 1 & 2 hit at 1.2495 and 1.2540
Trade active:
potential for more entries following the bounce on support
