Go Long on GBPUSD (06/05/02019) 16:00
For all those who could not catch the previous signal posted on GBPUSD the market has dropped to a previous level of resistance, now expected to become a support level. Go long at 1.3098 with a stop loss placed at 1.2970 and a TP placed at 1.3385. We are merely trading a retracement, also for those who missed the first signal. It is important to point out that the market is in the fib zone too. This then calls for a level of confluence..Kindly note that the analysis was carried out on an H4 chart. We have also identified an inverse Head and Shoulders to add onto to our analysis.