GBPUSD target hit but there is more to come
Updated
The GBPUSD made that move from the low we were looking at three weeks ago.
Although we came close to 1.47, I like to see a minor consolidation Monday to buy the continuation. I will be trading this from lower time frames to increase my risk/reward. Although in terms of pips 1.47 is not far away, risk/reward and structure is great and that's what matters in my trading. So let's see whether we get that minor consolidation for a buy trade opportunity.
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Although we came close to 1.47, I like to see a minor consolidation Monday to buy the continuation. I will be trading this from lower time frames to increase my risk/reward. Although in terms of pips 1.47 is not far away, risk/reward and structure is great and that's what matters in my trading. So let's see whether we get that minor consolidation for a buy trade opportunity.
timstuyts.com
facebook.com/timstuyts
Note
The market is slow today and I will just add my alternative scenario short term GBPUSD.Keep in mind that this pair can easily extend from here towards 1.47. However once we hit that target I will also focus on a possible reversal.
updates will follow.
Note
Note
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