GBP/USD Long Opportunity

10. Juli 2018

Daily closed very indecisive due to news release yesterday. However, despite that the bullish engulfing we had the day prior was still valid; Closing over Weekly support. Yesterdays candle failed to close back over so there must still be a lot more buyers than sellers currently in the market. M.A's on the Daily and H4 are still bullish and H4 structure is still intact. I had a trendline drawn on H4 supporting price that was strong enough to hold even through news yesterday and with the 4th touch delivering a bullish engulfing on the H1 and H2 TF's, this gave me all the confirmations needed to go long. 1:3 R:R