In our previous analysis GBP/USD was trading at 1.38943 We expected a further move to the downside on the pair and this is exactly what happened The pair hit lows of 1.38300 triggering our Sell Stop at 1.38800 and hitting our TP1 at 1.38600, We hoped that the pair would hit our 2nd TP at 1.38000 but that did not happen so we closed our trade at 1.38450 So we managed to bank 700 pips over 20 positions on this pair.
WHAT TO EXPECT:
Currently at 1.39100 Which acted as a minor support/resistance for the pair We expect the pair to reject this upward movement and go back to the 1.38 zone The pair might still be bullish and try to test resistance at the 1.39500 level A break above 1.39500 will see the pair reaching new highs of 1.40 We are still bearish on the pair
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