Hi traders,
On the GBPUSD we can see a bat pattern forming, which will complete at point D. This is the exact point where we can see the 161.8% Fibonacci extension of the move that formed a few days ago. We can also see the 61.8% Fibonacci retracement around this area. All these things considered, I'm willing to enter.
Entry: 1.31072
Stop: 1.30132
Target: 1.32559 = R:RR 1.58
Good luck! Updates will follow.
On the GBPUSD we can see a bat pattern forming, which will complete at point D. This is the exact point where we can see the 161.8% Fibonacci extension of the move that formed a few days ago. We can also see the 61.8% Fibonacci retracement around this area. All these things considered, I'm willing to enter.
Entry: 1.31072
Stop: 1.30132
Target: 1.32559 = R:RR 1.58
Good luck! Updates will follow.
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