Forex Signal For GBP/USD: Consolidation Below Expected $1,2338

 

 

Forex Signal For GBP/USD: Consolidation Below Expected $1,2338

 

Strong support is likely at $1,2161.

The last GBP/USD signal on June 20 was not triggered as the downside price action was slightly higher than the key resistance level at $1,2260.

 

Today’s GBP/USD Signals

 

• The risk is 0,75%.
• Trades can only be made before 17h00 London time today.

 

Buying Trade Tip

 

• Go buy right after a bullish price action reversal on the H1 time frame with the next touch of $1,2161.
• Put the stop loss 1 pip below the local swing low.
• Set stop loss even when the trade is 25 pips in profit.
• When the price reaches 25 pips in profit, take 50% of the position as profit and leave the rest of the position running.

 

Forex Signal For GBP/USD: Consolidation Below Expected $1,2338

 

Sales Trade Tips

 

• The next touch of $1,2338 or $1,2386 immediately sells as soon as a downside price reversal on the H1 time frame is reversed.
• Place the stop loss 1 pip above the local swing height.
• Set stop loss even when the trade is 25 pips in profit.
• When the price reaches 25 pips in profit, take 50% of the position as profit and leave the rest of the position running.

 

 

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