Opportunity for a buy on GBP/USD (Long Term)

FX:GBPUSD   British Pound / U.S. Dollar
It had been bearish for more then a week and I witnessed a short term resistance trend line (Orange) forming since yesterday and if it breaks through that expect a rally on the upside and maybe hit last weeks high in the long term.

Text in green is my take profit area.
Dec 27
Comment: It has developed a consolidation pattern but dropped right after nearing around the support line I set up (Pink). Hopefully that line will be respected and not breakthrough it in the mean time.
Dec 28
Trade active: My position has activated and will hold this position for the long term.
Dec 31
Trade closed: target reached: Due to the recent spike which could be related to the fact that Barack obama has given out sanction to Russia. I will close this position and wait for the market to hit around the 1.22000 levels again before I can jump in again.

The uncertainty with the situation in the UK (Brexit) will still be a factor to the pound being bearish.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out