With the recent weakness of the USD, we are expecting it to gain some grounds against the British pounds apparently. Looking at the current trendline on GBPUSD chart you can also observe its slopping into a downtrend; execution of your trade should be what matters the most. I have used the short position tool to show where I'll be taking my short position from with a calculated risk to reward ratio.
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If SL hits and we have a closed candlestick on that zone, we should be looking to long the market to the previous high
Trade stängt: Stopp nått:
If the British pound keeps on its pressure, I'll be looking to have my long position from 1.20550