Buy GBP/USD | Feb 18, 2020
Updated: Feb 20
GBP/USD has been trading in range since last week of Dec, 2019. There is no long term trend, so we have started using Range Trading Style.
Having seen recent improvement in employment, CPI and Retail Sales are expected to come out better than or inline with forecast. We have entered buy position and will look for an opportunity to move SL to BE before release of CPI.
Technical scenario: GBP/USD has been trading above MACD Predictor/Trend Predictor indicator for few days, which makes the bias bullish. ABCD100 (AB=CD) coincides with lower border of resistance zone, thus it's viable for GBP/USD to reach D if upcoming data don't disappoint.
Here is how we have entered. The screenshot displays entry and exit point.