A long opportunity with great risk reward on the GBP/USD
Im looking at a Long opportunity on this pair which could offer great risk reward...
Around the 1.5400 even handle is solid trend line support that has been tested a number of times, 0.382 and 0.618 Fib retracments and a 1.272 Fib extension...
Ive highlighted on the RSI a possible oversold area as price still has 100 pips or so to move...
If we get to this zone i will be watching price carefully to see if we can get a good entry as it could have a potential move back up to trend line resistance around the 1.6100 which would be a more long term position...
Shorter term targets at around 1.5650 is still a solid 250 pips.
Any likes, comments and or constructive critisism is welcome! Your support means alot!
Around the 1.5400 even handle is solid trend line support that has been tested a number of times, 0.382 and 0.618 Fib retracments and a 1.272 Fib extension...
Ive highlighted on the RSI a possible oversold area as price still has 100 pips or so to move...
If we get to this zone i will be watching price carefully to see if we can get a good entry as it could have a potential move back up to trend line resistance around the 1.6100 which would be a more long term position...
Shorter term targets at around 1.5650 is still a solid 250 pips.
Any likes, comments and or constructive critisism is welcome! Your support means alot!
