POTENTIAL LONG ON GBPUSD @ 1.57000
With Cable (GBPUSD) in an uptrend, it is good to join in the established trend in a price area that is low risk.
Price should head up and out to ~1.5900. The first target will be 1.5820 for a reward of about 3.5xRisk.
The strong move away from the zone shows the trend could find new strength when prices pull back.
However, a trend reversal seems close (1.5950)
EP: ~1.57000
SL: ~1.56500
TP: ~1.58200 (maybe 1.59000)
R/R: 3.5:1
Price should head up and out to ~1.5900. The first target will be 1.5820 for a reward of about 3.5xRisk.
The strong move away from the zone shows the trend could find new strength when prices pull back.
However, a trend reversal seems close (1.5950)
EP: ~1.57000
SL: ~1.56500
TP: ~1.58200 (maybe 1.59000)
R/R: 3.5:1
