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AffluentTraders

Technical Analysis GBPUSD FAKEOUT/SPIKE Trade.

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
AffluentTraders  
FX:GBPUSD   British Pound / U.S. Dollar
Beyond Technical Analysis Trend Analysis Chart Patterns ucfx price pattern Forex support Support and Resistance memory fakeout spike
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beyondta trendanalysis chartpattern ucfx price pattern forex support supportandresistance memory fakeout spike
Looking at the GBPUSD monthly rejection point also known as support and resistance lines or memory. GBPUSD was currently on a weekly low and moved very rapidly to the south with a strong rejection at 1.32551. This could signify a change in trend or a continuation of previous support or resistance pattern, I'm risking 20 pips on this trade with a 2/1 R/R. 2% Per Trade. Remember this analysis is for educational purposes only and If you want to know how I draw my support and resistance lines. Just send me a message.
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