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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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.