Wednesday, August 6, 2014

GBP/USD on 6-Aug-2014

Market retest support level near 1.6810, rebounded.
from intraday chart, there's a XAB, hitting 2L.
Currently the 50% retracement has completed market could go up to 1.6930 level, but I hope market to trade sideways before hitting target 1.6930.

Trading Plan:
Pending Order to Long GBP/USD at 1.6830.
SL 1.6800 (30 or 40 pips)
TG 1.6930 (100 pips)

1.6930 is also the resistance in 4H chart (EMA50).


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