Posted this idea a few weeks back as I thought the GBP had been sold off quite a lot recently.
We have had a rejection from point 2, and now price is making its way towards point 1 (1.2870). You can put your stop below the trend line (point 2). With your take profit at point 1 (1.2870). The next major point of resistance will be the moving average (SHOWN IN RED). As with all things, the US election will decide if we move higher or break lower.
We have had a rejection from point 2, and now price is making its way towards point 1 (1.2870). You can put your stop below the trend line (point 2). With your take profit at point 1 (1.2870). The next major point of resistance will be the moving average (SHOWN IN RED). As with all things, the US election will decide if we move higher or break lower.
