Forex Strategy: GBP/USD Short Trade Hits First Target
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- We sold GBP/USD at 1.6172 as prices fell having put in a Shooting Star candle, as expected
- The trade met our first target at 1.6063 (23.6% Fib); the next objective is 1.5941 (38.2% Fib)
- The stop-loss has been revised to trigger on a daily close above 1.6172
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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