This pair has been in a downward channel for quite some time but recently saw a little pop. I'm going to be looking to buy the breakout of this small flag and trade it to the top of the channel. If countertrend is not your thing then sit on your hands and wait to see if we hit the top of the channel and short the pair with the prevailing trend. Both trades can offer a great risk/reward and a winning opportunity. As always, make sure you manage your money.
-Zach
fxtradersclassroom.com
-Zach
fxtradersclassroom.com
Note
I'll update progress here as well: fxtradersclassroom.com/trade-of-the-week-gbpusd-breakout-12-07-2015/
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.