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nice 30/40 pips taken, we have moved out stop loss to break even as GBP news came in not so great and this has not moved the pair greatly. also dollar news later. if dollar news is bad then this could reverse. Remember this is a reversal trade and not as high probable as a trend continuation.
Trend reversed on GBPUSD at strong number of 1.20. We are counter trend trading into a pullback region for a longer term move higher.
We are eyeing current price as being a 62% pullback. Previous daily candle closed bullish so could be a morning pullback before new highs.
watching closely.
Either way we have taken 50% profit and stop loss to break even, eyeing the long up.
Trend reversed on GBPUSD at strong number of 1.20. We are counter trend trading into a pullback region for a longer term move higher.
We are eyeing current price as being a 62% pullback. Previous daily candle closed bullish so could be a morning pullback before new highs.
watching closely.
Either way we have taken 50% profit and stop loss to break even, eyeing the long up.