AMTrader

GBP/USD Bullish Butterfly 40 hour Time Frame

Long
FX:GBPUSD   British Pound / U.S. Dollar
GBP/USD Bullish Butterfly

It looks as if GBP/USD has found enough support above 1.3711,
at least for the time being.

If the 1.3711 level holds, then I would recommend the
three long trade setups for next week as today will be too
volatile to enter.

Trade 1
Entry: Close above 1.37788
S/L: 1.37038
T/P: 1.38569

Trade 2
Entry: Close above 1.38569
S/L: 1.38188
T/P: 1.39332 (61.8% Fib retracement)

Trade 3
Entry: Close above 1.39411
S/L: 1.38766
T/P: 1.40701

Happy trading.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.