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Hello traders good to be with you at the London open. Brexit and the fears that go with it as the GBP falls to a three month low this is going to get very interesting I have to say. I was also looking at the GBPJPY is also falling like a waterfall. Today we are look at the 60 minute chart and we can see how bearish this pair is. So the plan for today is for a pullback. I have placed the Fibonacci tool on the chart and looking for a pullback to the 23.6 level at the price of 1.4230 as is previous resistance. I would look to take profit at the support of 1.4100 also a psychological level and I would expect many traders have orders to buy at this level. The stop would be just above the 23.6 Fib and your entry, Minimal draw down on this trade we just need to be patient traders and let price come to us.

Thank you traders and we will talk soon…….William

FX Instructor Forex Blog – For Traders, By Traders

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