GBPUSD - H1 - Possible counter trend move up here on Cable
Updated
The overall trend is bearish but looking for a bullish opportunity here back up into some previous structure where other traders might be looking to get short again.
We have several tests of the lower levels here, and have been consolidating a bit in a rectangular channel which we seem to have recently broken out of. Would be looking for an entry reason around current levels to get long up to a potential area of Fib confluence with an equal measured move potentially completing up there as well.
We have several tests of the lower levels here, and have been consolidating a bit in a rectangular channel which we seem to have recently broken out of. Would be looking for an entry reason around current levels to get long up to a potential area of Fib confluence with an equal measured move potentially completing up there as well.
Trade closed: stop reached
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