The Great British Reversal?
Updated
GBPUSD has fallen long, hard and then fast. We've now reached a 261 extension. The previous 161 and 220 fibs on this fib set were useful for market reactions and there might be a big one off the 261. Could head all the way back to the 127 - 161 zone.
If this move is in play, long GBPUSD (And other XUSD) may become the hotten game in Forex.
All bets off if the 261 breaks, that could get nasty.
If this move is in play, long GBPUSD (And other XUSD) may become the hotten game in Forex.
All bets off if the 261 breaks, that could get nasty.
Note
Half profits taken and stops to even.Note
I think the reversal might fail. Up several 100 pips from entry but I think this may just be a correction. 
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