However, this might not be the end of the decline as the pair made a Double Bottom seen on H4 chart, but is close to visiting the support level of 1.35, the low of January 2009.
Whatever it might be, now is a good opportunity to go long with a small position and hold it for weeks, even months.
If you trade with a bigger position opened below 1.41, keep stops at 1.3978.
Chart: GBP/USD H4
Pound hit its lowest against Dollar in almost 7 years today.
ReplyDeleteThank you for pointing this out, I will keep it in mind.
ReplyDeleteGood point! I´ll be watching to those levels.
ReplyDeleteExcellent analysis!
ReplyDeleteGood work, keep it up.
ReplyDeleteInteresting to read.
ReplyDeleteVery useful post.
ReplyDeleteGreat post! Thank you!
ReplyDelete