Long GBPUSD before going Short on High
Updated
As a result of delaying in Brexit Vote, Sterling might find some support before going Long again for the remaining days of the week. Any positive outcomes on Brexit will sparks bullishness of Sterling further. However, as the Fibonacci 78.6% awaiting as resistance zone at the price around 1.3075-1.3100 it might conclude that the upward movement is market intention to reentry Short on High.
Trade active
Price fail to make deeper correction towards 1.2825 and trying to stay above last week high which indicate the intention of market trying to push the price higher. If the price manage to close above 1.2900 on hourly chart, stay Long towards 1.3100.Trade active
Securing trade with stop loss around 1.2930.Trade closed: stop reached
Will consider to reentry if daily close is still above 1.2875.Trade active
Daily still close above mentioned support price, hence expect more upwards movement before Short on High.Disclaimer
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