Starting with monthly chart, GBP/USD is continuing a clear downtrend. Then look to identify a bias from here, to the weekly, daily, 4H. To get a really tight entry you could ride 15min chart, but all in all, a safe trade would be 2% max risk, get in now and hold it until orders are filled. Potentially 1.14800
If we look to consider all the factors surrounding this pair, I can feel confident to take SHORT trades based on the overall trend, and then navigating the supply & demand in-between.
Its a great opportunity to co-inside the economic factors with great price action understanding that will get you the most out of this pair.
If we look to consider all the factors surrounding this pair, I can feel confident to take SHORT trades based on the overall trend, and then navigating the supply & demand in-between.
Its a great opportunity to co-inside the economic factors with great price action understanding that will get you the most out of this pair.
Trade closed manually:
I took my profits on Friday