One for the watchlist

Good evening Dynamic Traders,


Congratulations to those of you that managed to scoop up some nice profits today. The Sterling showed a good amount of weakness and provided lots of opportunity. The GBPCHF mentioned yesterday produced a movement of 440 pips.


I have posted the Cable chart below from the daily timeframe. The set up is not quite ready yet but one to keep on the watchlist if it is not already. Price has broken through the triangle to show a potential continuation down and restest of the previous low. However, it is heading towards a key Fib reversal level and therefore the conservative traders out there may wish to wait until it moves past it before entering the trade.














Good Trading!
Bijal Shah