(GBPUSD) Tues, 15 November 2022 Setup 3

GBPUSD

GBPUSD Long bias.
Status: Open position

What do I see?
- PPI MoM reflects a bullish response in the short-term period. I'm taking this opportunity to target the resistance level (1.20002 - 1.20198).

What I would do?
- As this is a high-risk thing to do, as the volatility is high. I can't guarantee that the target would be reached nor would it'll hit the SL. If the market eventually hit the SL, I would look to reenter the long position by identifying if the market creates a false breakout.

Key point:
- Do long in the short term period.
- For those who have not entered a long position yet, just wait for another pullback and wait for confirmation before entry.

Happy Trading! Good luck!