Hello traders and good to be back with you as we look again at the GBPUSD and see that it has taken us 24 hours to arrive at our price for a sell opportunity. The trade plan yesterday was to look for a pull back to the 23.6 Fibonacci level at the price of 1.2200. Well in Asia today this price was hit and we did keep a good eye on this and I did not enter the trade and as you would think 2 hours later it came down and now remains sideways. I am looking for a retest of resistance to enter the trade I hope we see this in the London Open. I am looking to take profit at the support at the price of 1.2120.Be alert as this has moved 30 pips down and now is not the place to enter this trade.
Thank you traders and talk soon……William