GBPUSD possible reversal from a double bottom
With recent Bank of England actions it makes sense the GB pound might strengthen a bit.
On the 15 minute- chart, the pair appears to be rising from a double bottom far below the
high volume area of the multi-session volume profile. On the MACD indicator, the MACD line
is downgoing but appears to be curling toward a reversal and is considerably below zero.
Overall, I will take a long forex trade with moderate leverage targeting 1.281 which is below
the POC line of the volume profile and so the value where the greatest volume of trades
took place recently. The stop loss is the pivot low at 1.2772.
On the 15 minute- chart, the pair appears to be rising from a double bottom far below the
high volume area of the multi-session volume profile. On the MACD indicator, the MACD line
is downgoing but appears to be curling toward a reversal and is considerably below zero.
Overall, I will take a long forex trade with moderate leverage targeting 1.281 which is below
the POC line of the volume profile and so the value where the greatest volume of trades
took place recently. The stop loss is the pivot low at 1.2772.