GBPUSD - POTENTIAL LONG POSITION?
In the macro-economy, USD itself has dropped significantly in the past few days from news.
In the charts at the H4 timeframe, we can see that GBPUSD has made a falsebreak on the strong resistance, which indicates GBPUSD is potentially going to drop for a short amount of time (2-3 candles) before going bull.
GBPUSD is potentially going to drop to it's base area, liquidity pool where buyers and sellers are fighting, and also it's right where the 0.618 fibonacci cluster points, and lastly it's in the long resistance wick drop.
After dropping to that area, we're looking for a long opportunity with a target price as the picture says.
This is a 1:4 trade risk-ratio, it's worth to risk.
In the charts at the H4 timeframe, we can see that GBPUSD has made a falsebreak on the strong resistance, which indicates GBPUSD is potentially going to drop for a short amount of time (2-3 candles) before going bull.
GBPUSD is potentially going to drop to it's base area, liquidity pool where buyers and sellers are fighting, and also it's right where the 0.618 fibonacci cluster points, and lastly it's in the long resistance wick drop.
After dropping to that area, we're looking for a long opportunity with a target price as the picture says.
This is a 1:4 trade risk-ratio, it's worth to risk.