Trade Review: GBP/USD

Our pretty little chart formation in GBP/USD turned out to be a winner as the retracement proved to be a great time to jump in short. I drew a Fib extension on the chart to show how a pair can react to it, and as you can see the drop responded to the 1.000 level. This level corresponded with the 1.8700 area making it a great resistance area and profit target. So, we could’ve gone for more pips, but I’m happy with the results. Good job to those who made some pips on this one!

Lot 1: +20 pips

Lot 2: +80 pips

Total: +100 pips