GBPUSD: Trading Plan For Next Week

hey traders,

this idea is primarily for those, who missed long trade from lower levels on GBPUSD
and want to jump in as soon as the market opens.

opening long position right now is very risky because currently, the market is
very overbought and on 1H it has recently broken below the trading range.

I suggest you let the market pullback and catch a bullish wave within 1.222-1.217 area.
this area has two very interesting features:
first of all, it covers the major broken trendline
secondly, there is significant horizontal support on the left.

I will be looking for a signal to buy the market inside this area.
Key target level is 1.239
but I will close the half of position on 1.229 level

good luck

Comment:

Slight movement down