Forex Signal For GBP/USD: Broad Consolidation in Bear Market
Forex Signal For GBP/USD: Broad Consolidation in Bear Market
Selling pressure builds as the price approaches $1,3650.
Last Wednesday's
GBP/USD signal may have produced a profitable short-term short trade from that day's downtrend at the resistance level defined as $1,3587.
Today's GBP/USD Signals
- The risk is 0,75%.
- Trades should only be made until 17h00 London time today.
Buying Trading Tips
- With the next touch of $1,3458 or $1,3401, buy immediately as soon as a bullish price action reversal on the H1 time frame.
- 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: Broad Consolidation in Bear Market
Sales Trade Tip
- Sell immediately as soon as a bearish price action reversal on the H1 time frame with the next touch of $1,3664.
- 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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