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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:


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