July 24th $GBPUSD – Box break out into the Trend

July 24th $GBPUSD - Box break out into the Trend

The GBPUSD has not been pulling back so we are going to try an alternative entry, the Break Out! If price closes above the Box then a long trade will be opened, with 1.55 as the target. The stop is the bottom of the Box, a place where it would be fair to say the trend line has been broken. The maximum ‘spike’ level has been set at 20 pips, to avoid a price spike out that then reverses.

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