GBP/USD LONGHi !
Based on the current price action and I have prepared 2 trades for next week.
First is a long position from 1.287 where is VAL , price has respected this area, making it a good level for initiating a smaller long position with limited risk.
Forward I am looking at 1.3 area and looking to scaling in after confirmation above 1.302 ensures that I participate in the trend continuation without overexposing prematurely.
Step 1: Small Entry at 1.287
Entry: Long position at 1.287.
Stop Loss: Below 1.2800.
Take Profit: Partial profit near resistance at 1.3000, or hold until breakout confirmation.
Step 2: Scale In After Breakout
Entry Trigger: Wait for price action to break and hold above 1.302 (confirmed by strong candlestick close or volume spike).
Entry Price: Enter larger position at 1.302.
Stop Loss: Below recent breakout level (~1.295).
Take Profit Levels:
First Target: 1.3200.
Second Target: 1.3400.
FX:GBPUSD