Long GBP/USD for ~300 pips at a risk of ~120 pips
This is a textbook pattern of higher highs and higher lows. GPU/USD has found support at the central pivot point. If the price action respects this level because it is 1) a Monthly central pivot and 2) Previous Resistance, then it should go up to Monthly R1, approximately 300 pips of profit with a risk of ~120 pips.
Note: My system of 1) RSI-MA Cross or 2) 8,21 EMA Cross has not yet signaled. But if the price goes up, the RSI-MA Cros will be the first to give a signal. However, the above analysis and possible trade are purely based on price action, support, resistance, and pivot point trading.
Note: My system of 1) RSI-MA Cross or 2) 8,21 EMA Cross has not yet signaled. But if the price goes up, the RSI-MA Cros will be the first to give a signal. However, the above analysis and possible trade are purely based on price action, support, resistance, and pivot point trading.
Trade closed: stop reached
stop-loss triggered.
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