GBPUSD: Take Off for a Scalp Regardless of Geopolitical Tension
Updated
In the current market, the British Pound (GBP) has been under pressure against the US Dollar (USD) due to ongoing geopolitical tensions. However, there is an opportunity for a scalp trade regardless of these tensions.
Chart Analysis
The chart shows a breakout from a support level, which could indicate a potential move to the upside. The price has also been consolidating recently, which could be a sign of accumulation before a breakout.
Trade Idea
Entry: Buy GBPUSD at the break of the support level
Stop-Loss: Below the support level
Take-Profit: Target 1 at the next resistance level, Target 2 at the following resistance level
Risk Management
It is important to manage your risk carefully when trading. Only risk a small percentage of your capital on each trade.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.
Chart Analysis
The chart shows a breakout from a support level, which could indicate a potential move to the upside. The price has also been consolidating recently, which could be a sign of accumulation before a breakout.
Trade Idea
Entry: Buy GBPUSD at the break of the support level
Stop-Loss: Below the support level
Take-Profit: Target 1 at the next resistance level, Target 2 at the following resistance level
Risk Management
It is important to manage your risk carefully when trading. Only risk a small percentage of your capital on each trade.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a financial professional before making any investment decisions.
Trade active
Stay Cautious : tradingview.com/chart/?mind=Uc8tf-aER_-15g_EHMIemA&symbol=FX:GBPUSDNote
+20 ish Pips capitalised on this long while hitting the roof before the NEWS event.
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.