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MarcellusLUX

GBP/USD probable double bottom set-up

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
MarcellusLUX Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdlong gbpusdanalysis gbpusdsignal
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trendanalysis chartpattern beyondta gbpusd gbpusdlong gbpusdanalysis gbpusdsignal
Dear traders, we have the probable formation of a double bottom
pattern in the daily chart. In addition, we also have a bullish reversal
candlestick in the daily timeframe.

A combination of these two factors gives us a reversal bias in GBP/USD.
As per my previous trade idea, I have bought GBPUSD@1.2090 with SL below 1.20
and TP at 1.2350 is on my mind.
Comment:
If GBP/USD closed above 1.2160 today, we can expect further rebound this week
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