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​ GBPUSD Trade from 7/20 Live Trading Room



GBPUSD Trade Video Clip from July 20th Live Trading Room


 

GBPUSD 4 Hour Elliott Wave Chart on July 20th

GBPUSD is showing bullish 5 swing Elliott Wave sequence in the 4 hour chart above from 1.2587 low, favoring further upside towards 1.325 – 1.3358. We looked for a way to join the higher degree trend to the upside in the lower 1 hour time frame and tried to find an entry in the pullback to buy.

GBPUSD 1 Hour Elliott Wave Chart on July 20th

GBPUSD 1 hour chart on July 20th shows that the pair is correcting cycle from 1.2809 low in 7 swing towards 1.292 – 1.295 area (blue box). From there, we expect pair to resume higher. We bought the pair in Live Trading Room at 1.2945 on July 20th with reward to ratio risk of 3.4 to 1. The pair reaches our target of 1.325 for 305 pips profit on August 3.

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