For the last day GBP/USD has been ranging between 1.3300 and 1.3225. It has just now broke the short term support at 1.3225 and is hovering at our key level 1.3200, what happens now will give us indication where to go next. We belive that bearish momentum will prevail but with possible bounces off the 1.3200, that is why is important to stay patient and wait for the good entry. As always, will keep you posted as we go on! Happy Trading
Trade closed: target reached:
We have finished the week strong, for all the aggresive buyers and scalpers I hope you cought the buy entries as well, but as we said bearish momentum has prevailed, we have reached both profit targets and accumulated over 100 pips on this idea alone. I belive everyone is satisfied, you can close your positions now and enjoy the weekend. We are coming back for the kill next week!