GBPUSD - SHORT THEN LONG

Double bottom with bullish divergence found on the hourly TF. RSI Oversold level at 1.5467.
PRZ at 1.5329 (61.8% retracement with previous structure support and resistance found at the same level).
You could do a SHORT to the PRZ, before a BUY.
I would place my SHORT stop loss at 1.5477. LONG stop loss at 1.5232.
Possible 1st LONG TP Level at 1.5477. 2nd TP at 1.5528

Commento:

Positive GBP manufacturing data caused a brief spike up, but the candle didn't close above the previous highest high at 1.55058.
My short stop loss was activated and I re-entered another position as it is still a valid trade.
Moved my new stop loss to 10 pips above the previous high (I should have done this earlier).

Trade chiuso: obiettivo raggiunto