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Good day, fellow traders! I am presenting you with a trade idea for GBP/USD.
After Friday's strong short-side initiative, the instrument has transitioned into a corrective upward movement and is currently testing the short breakdown area, which may serve as a launch point for the continuation of the downtrend.
I suggest considering short positions from a pullback to the breakdown zone, according to the setup shown in the chart above. Limit risks at 1.33286. Take profit on a breakout of 1.32600 and 1.32321.
This trade idea is presented using the "Price Action" method and "Stop-Hunting" strategy.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Tuesday Trade Review: 1H Chart of GBP/USD On Tuesday, the GBP/USD pair collapsed by 200 pips. Thus, while the EUR/USD pair remains within a pronounced flat, the GBP/USD pair continues
Tuesday Trade Review: 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair exhibited a movement that remains difficult to explain, even as of Wednesday. The first thing to note
On Tuesday, the GBP/USD pair crashed for the same inexplicable reasons as the EUR/USD pair. The only difference is that the euro lost about 100 points, while the pound lost
On Tuesday, the EUR/USD currency pair plummeted like a stone for reasons that remain unexplained to this day. Some analysts have already put forward hypotheses about what happened
On Monday, the GBP/USD currency pair continued its upward movement, unlike the euro, which rose in the second half of the day. Thus, the British pound is likely to continue
The EUR/USD currency pair continued its upward movement on Monday, but in the second half of the day, a decline in the quotes occurred. In general, we cannot conclude that
On Friday, the GBP/USD currency pair managed to trade both ways, fully taking advantage of the forming flat. In the first half of the day, the British pound declined
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