GBPUSD (CABLE) LONG IDEAS
Updated
GBPUSD hit Weekly support level around (1.21677 - 1.20495) on 12th May, accumulated orders and started rallying to the upside on 13th May, this rally broke multiple structures (highs) on the lower timeframes
Strong bullish momentum breaking through equal highs at 1.24072 forming significant higher highs, broke another significant high at 1.26376 today (27th May)
MY POV
I am anticipating a pull back down clear equal lows at 1.25540 before we can see any significant markup to 1.26988 or higher!!
target: 1.26988 (150+pips)
stop loss: 1.24671 (58pips) 1:3RR
Entry: 1.25255 (confirm with other factors before entry)
Strong bullish momentum breaking through equal highs at 1.24072 forming significant higher highs, broke another significant high at 1.26376 today (27th May)
MY POV
I am anticipating a pull back down clear equal lows at 1.25540 before we can see any significant markup to 1.26988 or higher!!
target: 1.26988 (150+pips)
stop loss: 1.24671 (58pips) 1:3RR
Entry: 1.25255 (confirm with other factors before entry)
Trade closed: stop reached
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