GBPPLN Cap & Handle Pattern and Fib Extension Target LONG

This analysis is based on Cap & Handle pattern which can be drawn as shown with dotted lines, plus Fib extension target measured from the start of the new trend. Reaching 5.8 PLN per GBP is quite possible seeing the recent drop has now reached resistance level and 50% drop of the price rise, s/l below 75% would be a good idea, protect your capital is always a good idea!

Which reminds me- please remember this is just an idea not a trading advise :)

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