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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.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
