Trade Idea: GBP/USD - Stand aside

Discussion in 'Forex Trading Signals & Forecasts' started by Lily, Jun 24, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Although the British pound dropped sharply from 1.5018 to 1.3228 after Brexit confirmation, as cable found support there and has staged a strong rebound, suggesting initial upside risk is seen for retracement to 1.3860-70, then 1.3910-15 (38.2% Fibonacci retracement of 1.5018-1.3228), however, reckon the Tenkan-Sen (now at 1.3940) would limit upside[​IMG]

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