GBPUSD TREND CONTINUATION BUY OPPORTUNITY
Updated
When the market broke the 1.4480 resistance area to the upside the expectation became an eventual test of the 1.4710 resistance area. The market has pulled back to the 1.4480 broken resistance area which is likely to now become support on first test.
If the 1.4480 area holds the market will likely retest the high of the breakout around 1.4660 and then potentially the 1.4710 resistance area. As long as the market holds above the 1.4403 swing low the bullish scenario remains intact.
Buying at the 1.4480 zone with stops behind the 1.4403 zone and targets at the 1.4710 zone provides close to a 2:1 reward to risk trade opportunity.
If the 1.4480 area holds the market will likely retest the high of the breakout around 1.4660 and then potentially the 1.4710 resistance area. As long as the market holds above the 1.4403 swing low the bullish scenario remains intact.
Buying at the 1.4480 zone with stops behind the 1.4403 zone and targets at the 1.4710 zone provides close to a 2:1 reward to risk trade opportunity.
Trade closed: target reached
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