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GBPUSD Bullish Flag Pattern and Long Opportunity Update: TP1 160 Pips

GBPUSD Bullish Flag Pattern and Long Opportunity

Description: GBPUSD completed the Bullish Flag pattern and broke the flag line. We might see a retracement base on Bearish Shark pattern which we have published on Friday. The broken line could be tested. The targets of the formation were shown on the chart.

Pair / Instrument: GBPUSD

Time Frame: H4

The trend in the Timeframe: Bullish

The trend in the Daily Chart:  Neutral

Trade Based On: Bullish Flag Pattern Breakout

Accuracy: %73

Recommended Lot Size: 0.10 @ 10 K Account with 1:100 Leverage

Trade: LONG

The Area Of The Entry: 1.31200 and  the potential pullback @ 1.30600

Stop Loss: 1.29000 – Invalidation Level –

Target 1: 1.32200

Target 2: 1.32600

Target 3: 1.34400

What to Pay Attention: Brexit Related Volatility

You can follow the idea: GBPUSD Bullish Flag Pattern

Update: TP1 Reached. 160 Pips. Trade is open.

 

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

GBPUSD Bullish Flag Pattern : Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

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