GBPUSD: BUY OR SELL
Updated
GBPUSD had a bullish run on 03/01/2024 (mmddyyyy). It may continue to rise through out the month
Trade active
opened a position at 1.26650, sl: 1.25700, tp: 1.28400Note
The GBPUSD has maintained a fluctuating pattern within the range of 1.25800 and 1.27700 for over a month. Today, it has surpassed the upper boundary of this range. The question arises: will this upward momentum persist, or are we witnessing a false breakout? If you're engaging in trading, my cautious suggestion (to be taken with a grain of caution) is to wait for the price to retreat towards the 1.27700 level and demonstrate a clear upward trend before considering buying the GBPUSD. For those currently in a trade, it's advisable to set the stop loss at 1.27300, well within the range the price is attempting to break out of. Looking ahead, for the next month, I only foresee buying opportunities for GBPUSD, particularly for long-term traders.
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