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MT5.com - Trading idea for GBP/USD

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Forex Analysis:::2020-09-16

Trading idea for GBP/USD

analytics5f61f1632f486.jpg

Let me bring to your attention a trading idea for GBP/USD.

On a weekly scale, we have a pullback and a very attractive level located at 1.35, which is within the framework of a bullish trend. Against this background, I recommend the idea of working on the growth according to the chart below:

analytics5f61f1665078a.jpg

In fact, we have an A-B-C structure, where wave A is the bullish momentum of the last two weeks. Here, the potential to the nearest level of sellers is about 600p for 4 signs. Thus, we recommend working for an increase in the current range to the level of 1.35. This trading idea follows the classic methods of trading such as Price Action and Stop Hunting.

Of course, we should also control the risks in order to avoid reducing or losing profit.

Good luck on trading!

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