GBPUSD retracement LONG position
Updated
Hello all
I am looking to get in to GBPUSD
With a weakening USD and GBP gaining strength dependant on sentimental short term views, i think that price will retrace today back into the 50% to 61.8% area of the Fibonacci region highlighted within the picture.
Price could carry on or only retrace back to 38% area, however we will look for buy signals at these areas.
The 50% is the preferred area where price also meets previous resistance which will now become support to head higher again
Duncanforex.com coming in the next 9 days.
you can go to the site now to register your interest.
Thanks for reading my trade idea.
I am looking to get in to GBPUSD
With a weakening USD and GBP gaining strength dependant on sentimental short term views, i think that price will retrace today back into the 50% to 61.8% area of the Fibonacci region highlighted within the picture.
Price could carry on or only retrace back to 38% area, however we will look for buy signals at these areas.
The 50% is the preferred area where price also meets previous resistance which will now become support to head higher again
Duncanforex.com coming in the next 9 days.
you can go to the site now to register your interest.
Thanks for reading my trade idea.
Note
Hi All I am trading a counter trend SHORT trade. Entry at 1.2704 and following it closely down to the 1.2625 area to then look to go long again - as counter trend, only risking 0.5% of capital on the trade
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