Going LONG on GBP-USD

١ سبتمبر ٢٠١٨

price formed a descending triangle and reversed to the downside however there is a strong level at 1.29264. At this level the market is likely to reverse.We can also see that the market is loosing momentum to the downside. When you plot a retracement you can see that the .618 perfectly aligns with the support level. This provides an entry signal to go long.