GBP/USD 1-2-3 Bullish Move As Expected

The GBP/USD is in uptrend. The recent retracement was used to find buyers at support. The POC zone was perfect for longs as you can see on my chart.

1.3650-1.3700 is the zone where buyers were in the history. The move which preceded buying in the zone is the biggest 1-2-3 swing in the 4h timeframe. Bulls have taken over and expected targets are 1.3832, 1.3903 and 1.3982. Traders who have already bought might scale out and enjoy a free ride.

(Click on image to enlarge)

 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.