140819-150819 gbpusd PROFIT

GBPUSD Daily

As you can see, GBPUSD is still in the downtrend. 

GBPUSD Hourly

As you can see, there is a significant resistance zone at 261.8 %. This is also the 23.6 % retracement of the previous trend  Also there is a side ways price movement in this area. Therefore TP is placed near this area. As you can see in the next Pic.

GBPUSD Trade

As you can see, the price breached thrice. But I placed buy order after the third breach only. I didnt wait for TP and sold out early. I had took another trade of USDCHF, at the same time, which is an opposite pair. At that time, USDCHF took a wild swing downwards, so I sold both for a profit. In the hindsight I could have waited more, as USDCHF actually hit the TP assigned for the trade, later.