Based on my analysis, the GBPUSD has been forming a distribution pattern on the 15-minute timeframe, indicating a potential reversal. I believe that a short position at the sell limit level is appropriate, with a stop loss above the pattern's high and a take profit at the next support level . The risk-reward ratio for this trade is very attractive, providing a good opportunity for profit.
Entry: Sell limit at 1.2223
Stop loss: 1.2319
Take profit: 1.1767
Risk/Reward ratio: 5:1
Good luck!!
Entry: Sell limit at 1.2223
Stop loss: 1.2319
Take profit: 1.1767
Risk/Reward ratio: 5:1
Good luck!!
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.