The GBPUSD moved lower to start the U.S. session but reversed higher as the 1.3100 figure was tested. After the completion of a three candle reversal pattern a long was taken risking 22 pips for a potential 77 pips to our daily target at 1.3177.
Price moved higher and gained momentum as it moved to and through our target going into the U.K. close – where we exited.
The strength in the USD that came after the FOMC yesterday began to fade somewhat today. Friday will be a busy day for economic news releases. Will the DXY hold above 92.50 going into the weekend?
If there is a good trade tomorrow, I will post it. Next week, I will be off on holidays and will return at the beginning of September.
Good luck with your trading and stay healthy!