GBP/USD outlook for next week 16/10/2017 - 20/10/2017

Telah dikemas kini
Trade last week netted 352.6 pips (trailing stop hit on brexit news and reopened 2 positions before bounce)

16/10 to 21/10/2017
Looking for hold of 1.32707, if this price breaks looking to re enter long on price holding 236 retracement. If no rejection at 236 look for price to hold bottom of channel and enter long at this point. Not worth trying to short to any of the fib levels as risk reward isnt great and we arent expecting price to keep running lower marking short targets hard to assess.
Very strong support now at 1.30304 and if price reaches this we can increase size with tighter stops and be confident (we need to take measured risk to grow an account).
Again looking to target 50% of channel as initial target as price will struggle since was rejected so the lower we can enter the better.
As said though i would be very cautious in shorting GBP/USD at this time.
I will update once in a position.
Nota
watching 236 closely
FibonacciSupport and ResistanceTrend Lines

Penafian