GBP/USD: minor pullback against the uptrend

The daily and 4-hour timeframes are in agreement on the GBPUSD uptrend. We have a minor pullback from the 1.6300 top which is yet to test the 38.2% fibo level at 1.6052 however the bullish pin on the 4h chart with confluence of an important swing high (bearish pin bar on Oct.15) offers a setup for a long trade.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: