Buy GBP/USD | Dec 20, 2019
On D1/daily time-frame:
GBP/USD took support at FIB38.2 which coincides with previous swing high.
On H4 time-frame:
The price closed above 3-3 SMA (shown in indigo color), fell down and closed below it then close above it again. The action should have been taken place in 3-5 candle but it is slow, it took 7 candles. Nevertheless, it looks like a Double Repo Pattern in terms of price action. The classical target of Double Repo is 50% of the swing.
SL, TP and entry have been shown in the screenshot:
