Looking to BUY GBPUSD in BUY AREAS and to close position in TP AREAS. (30+ PIPS)
Looking to target price area 1.291
- Do not trade if price breaks through BUY AREAS with clear bearish momentum
- Wait for reversal pattern
-The 1W chart shows a re-test of the support TL on this triangle pattern. This shows that there is a lot of selling pressure and bears are in control.
If you look at price in the circled area, you can see that as price increases, the retracements are strong/deep; showing that if price were to continue higher, the bears will come back and drive price back down...