GBPUSD - Long opportunity on daily demand level
Looking on the daily chart, I notice that price closed with a doji candle right at a demand level and with extreme oversold condition (13) on the RSI. Because of this, I took a long position with target at the weekly supply level beginning at 1.6535.
Seems like the odds are on the bulls side, but we will have to wait until next week to see if this level will hold. If it does, it would be a nice 200 pips profit for next week.
Good luck everyone.
Seems like the odds are on the bulls side, but we will have to wait until next week to see if this level will hold. If it does, it would be a nice 200 pips profit for next week.
Good luck everyone.