GBPUSD Short term mean reversion
Updated
Opportunity for a short term mean reversion play as a low UK PMI number has caused an extreme move in GBPUSD.
Entry levels under 1.26400 look promising for a nice risk/reward play
Heavily oversold on RSI, extreme ROC, markets may have overreacted short term and potential for reversion to the mean.
Entry levels under 1.26400 look promising for a nice risk/reward play
Heavily oversold on RSI, extreme ROC, markets may have overreacted short term and potential for reversion to the mean.
Trade closed: target reached
Successful trade, small drawdown and then a solid trend back up, idea worked perfectly 👍👍
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