Forex Signal For GBP/USD: Bearish Trendline Shows Strong Resistance

    Forex Signal For GBP/USD: Bearish Trendline Shows Strong Resistance   The price is likely to continue its downtrend below $1,1868  

• The previous GBP/USD signal on 16 August could have produced a somewhat profitable short trade had the trading session closed at the end of the day's London session at the $1,2100 designated resistance level due to a bearish bias.

 

Today's GBP/USD Signals

 

• The risk is 0,75%.
• Transactions must be made before 17h00 London time on Thursday.

 

Buying Trading Tips

 

• Buy as soon as the bullish price action reverses on the H1 time frame with the next touch of $1,1791 or $1,1695.
• Place the stop loss 1 pip below the local swing low.
• Move stop loss even when the trade is 25 pips in profit.
• When the price reaches 25 pips in profit, remove 50% of the position as profit and let the rest of the position last.

 

Forex Signal For GBP/USD: Bearish Trendline Shows Strong Resistance

 

Sales Trade Tips

 

• In the next touch of $1,1791, $1,1864 or $1,1878, sell immediately 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.
• Move stop loss even when the trade is 25 pips in profit.
• When the price reaches 25 pips in profit, remove 50% of the position as profit and let the rest of the position last.

   

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