GBPUSD Fibo Open Short
Updated
As per my previous post, having cleared the last bullish fibo uptrend at the 1.618 level, GBPUSD has turned very bearish in the short term.
After hitting a low of 1.2905, they have retraced back above 61.8% level of 1.3282.
With stop loss at last high of 1.3520, Risk / Reward ranging from 4 - 5 X depending on entry level, profit target at 1.618 level of 1.2296.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
After hitting a low of 1.2905, they have retraced back above 61.8% level of 1.3282.
With stop loss at last high of 1.3520, Risk / Reward ranging from 4 - 5 X depending on entry level, profit target at 1.618 level of 1.2296.
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Trade closed: target reached
Eventual full profit taking at Fibo 2.618 level as it breached below 1.16867.Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.