Forex Signal For GBP/USD: Bear Market Below $1,3575

      Forex Signal For GBP/USD: Bear Market Below $1,3575   Against the strong USD, the British pound is in relatively good shape. As the GBP/USD signal was not triggered last Monday, there was no bearish price action when the price first reached the $1,3577 resistance level that day.  

Today's GBP/USD Signals

 

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

 

Sales Trade Tip

 

• Go short on the next touch of 1,3687 immediately after a bearish price reversal on the H1 time frame.
• Place the stop loss 1 pip above the local swing height.
• Set a stop loss even when the trade is 20 pips in profit.
• When the price reaches 20 pips in profit, take 50% of the position as profit and leave the rest of the position running.

 

Forex Signal For GBP/USD: Bear Market Below $1,3575

 

Buying Trading Tips

 

• Next touch 1,3577, 1,3527 or 1,3502, immediately watch for a bullish price action reversal on H1 time frame.
• Put the stop loss 1 pip below the local swing low.
• Set a stop loss even when the trade is 20 pips in profit.
• When the price reaches 20 pips in profit, take 50% of the position as profit and leave the rest of the position running.

   

You may also be interested in:

 

Forex Signal For AUD/USD: Unable to Determine Direction.