GBP/USD short Opportunity
GU broke the 1.22192 Support Level Last week, I expect we get a DBD formation to 1.20683 area in the coming Days
Trade active
Here’s a trade idea for GBP/USD based on the uploaded chart and the previous template structure:
Sell Trade Idea: GBP/USD
GBP/USD is currently in a bearish trend, forming lower highs and lower lows. The price has recently retested a key resistance zone near 1.2220 and shown signs of rejection, indicating potential for further downside movement.
Entry: 1.2220
Stop Loss (SL): 1.2270
Take Profit (TP): 1.2070
As the trade progresses, price action should be monitored closely. Stop Loss adjustments can be made to break-even or to secure profits as the price approaches the TP level. This setup offers a favorable risk-to-reward ratio (RRR) of approximately 1:3, making it a sound trade from a risk management perspective.
This trade setup is based on a combination of technical analysis, fundamental analysis, investor sentiment, and retail sentiment.
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