Blindfoldedmonkey: GBPUSD DAILY STRATEGY

Wednesday 16 October 2013

GBPUSD DAILY STRATEGY

Direction: long
Target: TP1 – 1,6070
Protection: SL – 1,5920
Our setup: 1,5985



Background: The Cable has established the monthly low yesterday. Namely it built a double bottom on H4 chart. After that back test slightly came up the pair. Current price action can extend further and can be a bullish reversal for longer term. The first key resistance level at 1,6000 if it is taken the final target for this position is at 1,6070. 

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