Gbpusd fib false breakout and longs trap

Gbpusd test key fib level on daily 38.2 and make a fake breakout above for 50 pips then reverse sharply.Nice move notice we were stopped 1 pip from 1.60 last friday!

Your comments too are welcome and you can always reach me on twitter @fx_13.

(Please click on the forex chart thumbnail to enlarge)