The Forex Mechanics are trading GBPusd this morning we will place a buy stop at 1.48502 and we will exit at 1.47430. This is about 98 pips but our tradition is to lock in 20 pips.
This pair has been in the South and will continue South for a while. The price has been trapped between 1.49861 and 1.47378, and this has been happening for about 4 days now. In this circumstances the odds usually favor price in the direction of the the major trend 80% of the time. Again our indicator shows that the price is expected to move South with about 500 pips.
That is our ultimate target anyway.
This is just for educational purpose only and we advice that you exercise caution when trading Forex because it is highly risky
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