The pound is set to rally higher in my opinion. I do see it dropping down to 61.8% retracement to price levels 130.60s.
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Dropped as expected to our 61.8% area. Will look at channel to be broken before entering any long positions as it can still drop to retest 130 price point. We await the Brexit news coming out in a few weeks. We only enter high reward trades. 50+ pip trades.
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We are well over 600+ pips on each of our contracts entered. We will hold until market get us out on gbpjpy. We wait for our next entry to keep adding orders if the market permits. Or we sit and wait. No rush to enter in random trades. We are waiting for the brexit talks to keep giving us all these wonderful market moves.
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1000+ pips on gbpjpy. Amazing pair. I do not believe gbpjpy is done running higher. We have not hit an important level. I would let price show me what is next entry level. I still see levels 142/148 touching.
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We have touched an amazing 141.50 level. 61.8% main retracement level. Bounced right off of it. I still have my eyes on bigger levels.