Today's analysis for GBP/USD shows an overall bearish trend. I am looking to go short once the price hits the Sell-Side Imbalance Buy-Side Inefficiency (SIBI) Fair Value Gap (FVG) area. Additionally, there's a breaker block just around the FVG that reinforces this potential short entry. The resistance level at 1.2650, aligned with the 14-day EMA, is a key zone I'm watching closely. If the price reaches this level, it will provide an ideal entry point for a short position.
Stop Loss: 1.2680 - Placed 30 pips above the entry point to protect against unexpected upward movement.
Take Profit: 1.2590 - Positioned 60 pips below the entry point at a previous support level where price action may slow down or reverse.
Risk-to-Reward Ratio: 1:2
NB. The dollar has been strong since the elections and hoping to continue for a while with the BOE uncertainties.
Always keep an eye on upcoming economic events and market sentiment for any sudden changes. Happy trading!
Stop Loss: 1.2680 - Placed 30 pips above the entry point to protect against unexpected upward movement.
Take Profit: 1.2590 - Positioned 60 pips below the entry point at a previous support level where price action may slow down or reverse.
Risk-to-Reward Ratio: 1:2
NB. The dollar has been strong since the elections and hoping to continue for a while with the BOE uncertainties.
Always keep an eye on upcoming economic events and market sentiment for any sudden changes. Happy trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.