GBP/USD – HOURLY CHART
Yesterday price came 3 pips shy of the entry and rallied on to take out the A high as per analysis yesterday, starting the reversal process. We now have a new B and we can only buy at the 618/786, or sell at the BF786, both ONLY after cs formations.
SHORT: Will be going short only IF:
We get a bearish cs formation after hitting the BF786. Trade this for 60 pips since it’s a shallow bounce.
LONG: Will be going long today only IF:
Price hits the 618/786 and gives us a bullish cs formation. Trade the 618 for 60 pips and the 786 to the BF786, this will be a PT.
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