gbp long idea

comments

Comment:

gb10y-us10y yield spread sagging a little but nothing wildly differing from current spot rate.

blue = range, break and hold below and revisit m1 support, if find support there then looking for retest of the rejected resistance. More likely scenario if brexit legal case has legs + dollar has another run. If extremes of either scenario could see dip below m1, if past grey extended support then could see larger downside (1.2762+) as naked lvl

If can break topside bullish towards a retest of rejected res, limits above range once break and hold for retest of top range. Bull threat of brexit legal headlines and dollar run

Trade closed: target reached:

slightly divergent version of scenario 2. Found support earlier than m1 sup and retook range before heading topside range + breakout to retest and break rejected res. Probably going to dillydally into the weekend, but given a favorable open looking for a push to 1.2977

Comment:

Want to see close above 1.2930 though