GBPUSD is currently testing a possible support level. The last candle was a long legged doji which confirms support here.
This is a good low risk opportunity to go long with and good risk to reward of 5:1. A stop needs to be placed just below the shadow on the doji candle at 1.30033 and would target 1.30800 which is just below the area of resistance marked on the chart.
EURUSD has been trading in an ascending wedge formation since mid November. It is currently testing the 1.14720 (R1) area of resistance. Should this level hold we could be looking at a move back down to the lower trendline.
Profit target: 1.13631, the 4th of January swing low.
Stop loss: 1.5000, if this analysis is correct we shouldn't get above here. A move...
technically GBPUSD set to drop back to 1.21 add the fundamentals with article 50 triggering next week on the 29th, will we see a sell off in GBP in anticipation of what may happen.
DX short term correction for me will add more downside to this trade, nice R:R