Short Term Long GBPUSD, Reversal Trade
GBPUSDAfter Theresa May's announcement, GBP actually stays stronger rather than continue to fall. Market has likely priced in the event before it happens.
GBPUSD formed Daily Morning Star pattern near Weekly Uptrend Line, means Bearish has weakened and sentiment possibly change to short term Bullish bias.
Broken Downtrend Line, 1H Inverse Head and Shoulder Pattern, Neckline at 1.2690 - 1.2700
Wait for Reversal Candlesticks at that level.
Entry: 1.27
SL: 1.26
TP1: 1.28
TP2: 1.2860
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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.