Key Support: 1.3580
Yesterday on my live show I talked about the massive key level the Pound is trading on against the US Dollar. Let’s talk first about the short to mid term structure in this market.
From mid September highs the GBP has depreciated 3.6% against the USD (high to low move) trading inside of a very structured move with impulses being bearish.
At the end of last month price seemed to have bottomed (at least short term on a pullback), after testing and bouncing from the 1.34 level. In the last 5 days we have seen a 230 pip (1.71%) move to the previous broken lows (August 2021 lows) and a test of the overall bearish structure.
My trade idea here is to play the bull flag break out on a bullish reversal
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