After trading sideways for nearly two weeks, pound finally went above 1.4.
This scenario is what we hoped for in our previous articles: Trading idea for GBP / USD (April 21) and Trading idea for GBP / USD (May 4)
So, congratulations to those who followed them and opened long positions in the market!
The large three-wave pattern (ABC) is complete, and the pound moved up by 1,400 pips.
It rallied after the Bank of England announced its decision to keep a soft monetary policy, and after the US published a weak employment report.
Price Action and Stop Hunting were used as trading strategies.
Congratulations again and have a nice day!