Dear GBP/USD Trading Signal Traders

The trading signal from yesterday is still open. I have not touched it, since it is looking for more buyers to join in and push the price up. On the other side, I am closely monitoring the GBP/USD currency pair. There are a lot of buyers that are rushing in and raising the price up. The day finished with a bullish engulfing pattern and I will be looking to enter into a long trade during the next trading session.

What I like particularly about this trade is the extremely strong momentum that has been generated in the last trading session. The candle is engulfing all of the candles of the previous 5 trading sessions and breaking the highs (resistance levels) at 1.5500. I will be looking to enter at around 1.5475. My stop would be placed below the level of 1.5325. My first price target is the level of 1.5800.

Happy Trading,

Colibri Trader

 

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