GBP/USD reaches first resistance, time for a pullback
Updated
Hello traders, in all my past 4 GBP/USD idea, I recommended buying the
dips in GBP/USD. Price was at sub 1.21 levels. If you followed those idea, you
would have certainly made 250-300 pips profit.
Now, as expected, GBP/USD has reached the 100-day exponential moving average
level around 1.24. I expect the price to pullback here. Even in the hourly chart,
GBP/USD is very over-stretched.
So, if the 1.24 level holds, selling GBP/USD@1.2380-1.24 with SL above 1.2450
and TP at 1.2340 would be a potential sell idea.
dips in GBP/USD. Price was at sub 1.21 levels. If you followed those idea, you
would have certainly made 250-300 pips profit.
Now, as expected, GBP/USD has reached the 100-day exponential moving average
level around 1.24. I expect the price to pullback here. Even in the hourly chart,
GBP/USD is very over-stretched.
So, if the 1.24 level holds, selling GBP/USD@1.2380-1.24 with SL above 1.2450
and TP at 1.2340 would be a potential sell idea.
Trade active
Sold@1.2420.Note
Trade in 82 Pips profitNote
100 Pips profit hit, I belive there will be more drop, but I am booking partial profit nowNote
Trade hits 170 Pips profit now
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