GBPUSD

66
Reason for placing the trade: there had been a large bullish push after breaking out of a well respected wedge, so i definitely had a bullish bias. I can't comment on how people draw there Fibs but if you draw a fib from the most recent swing low to the swing high of the move to the upside you can see price had pulled back to the 0.5 fib zone. I wanted to get in long but the market closed Friday, i said to myself if we see a move to the upside after market open i will get in the trade, wanted to see a three white soldiers candle confirmation but if you ignore the black bearish candle in the middle i guess you get that. Long story short i placed the trade but should i hold it??

Why I'm doubting the analysis: Yes price has bounced off a respected support but it has also been rejected from a 4H resistance zone and i doubt it could break above that zone unless we get some serious momentum. So I'm tempted to close the trade in slight profit because the market has just been moving sideways for the previous 14 hours.

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