Tag Archives: GBPUSD pullback

GBP/USD: long stopped as pullback extends

I entered long in GBPUSD after the break above the two bullish pin bars with long lower wicks. I entered on the pullback after the breakout allowig me a fairly close initial stop which was hit as the pullback extended into the US traing hours. Now the pair is testing the 50% fibo level just below the 1.6000 mark. This level also meets the measured move target of the A-B-C correction on the 4h chart.