Good afternoon! A trading idea for GBP/USD:
The trading idea on May 21 was to open long positions in the area of the round level 1.22.
Quotes are now slightly below 1.22, in the area of the Fibonacci retracement level 38.2%.
The plan is not canceled, but consider the following scenario for the dynamics of the pair:
Wait for an initiative that will take the pair beyond the round level 1.22.
From a rebound, work for an increase, targeting the goals shown in the plan on May 21:
The plan for the pair looks like this:
The UK is on a day off today, so an increase in volatility is not expected:
Good luck!
