If 2.09154 holds then we have a successful breakout re-test with a clear target at 2.25005.
One sometimes gets blind of these intradays moves and I have another trade idea of shorting this one big time posted...well it seems I have to change my mind since this pair has gone from a downtrend to ranging and now heading for a trend reversal.
Even if the pound fails this first breakout and re-test attempt I dont think it will pullback that far and will hit these levels very directly after.
I dont know about you but I wont say no to roughly 1500 (ish) pips taking a set and forget trade from this level. I have a similar scenario posted about EURNZD as well.
One sometimes gets blind of these intradays moves and I have another trade idea of shorting this one big time posted...well it seems I have to change my mind since this pair has gone from a downtrend to ranging and now heading for a trend reversal.
Even if the pound fails this first breakout and re-test attempt I dont think it will pullback that far and will hit these levels very directly after.
I dont know about you but I wont say no to roughly 1500 (ish) pips taking a set and forget trade from this level. I have a similar scenario posted about EURNZD as well.