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GBP/USD potential double bottom, price may rise

Paun British / Dolar A.S. (FX:GBPUSD)  
YourLazyTrader  
FX:GBPUSD   Paun British / Dolar A.S.
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdsetup gbpusdidea
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trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdsetup gbpusdidea
The value of GBP/USD has fallen steadily over the past few trading sessions. However, the
downtrend may come to an end soon and we may say a recovery in price.

A potential double bottom at 1.1770 level might give GBP/USD bulls the much-needed impetus
to take the price upwards towards 1.23 level.

It seems that a lot of retail traders are long in GBP/USD. However, my recommendation is to buy
GBP/USD between 1.1760-1.810 with SL below 1.1720 and TP at 1.23. Traders must approach such
anticipatory trades with partial lot strategy.
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