Since the British election the price GBP has dropped below the pre election price high of 1.74448. Although there are signs of price increase with two engulfing candlesticks (which meet my criteria) which indicate a positive reversal of price decrease we have seen.
I believe the sharpe upward trend we are starting to see will continue and as previously seen smash through the resistance line. However my target will be slightly highly due to fact the current price is so low and from looking at past data I expect the price to follow a similar pattern as before.
Entry = 1.70479
Stop order (20 Pips below entry) = 1.70225
Target = (2%) 1.74265
I believe the sharpe upward trend we are starting to see will continue and as previously seen smash through the resistance line. However my target will be slightly highly due to fact the current price is so low and from looking at past data I expect the price to follow a similar pattern as before.
Entry = 1.70479
Stop order (20 Pips below entry) = 1.70225
Target = (2%) 1.74265