GBP/USD analysis - 22 Oct 2024
Updated
1.3015 acts as an important level today & if price stays below this level then we expect it to hit our target profit at 1.2978.75.
If price breaks above 1.3015 then it should hit 1.30425.
Below is our recommendation;
Trade 1 (Risk 0.5% of your account size);
Sell GBP/USD @ 1.3005
Stop Loss @ 1.3015
Take Profit @ 1.2978.75
Trade 2 (Risk 1% of your account size);
Buy Stop GBP/USD @ 1.3015
Stop Loss @ 1.3005
Take Profit @ 1.30425
*Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
If price breaks above 1.3015 then it should hit 1.30425.
Below is our recommendation;
Trade 1 (Risk 0.5% of your account size);
Sell GBP/USD @ 1.3005
Stop Loss @ 1.3015
Take Profit @ 1.2978.75
Trade 2 (Risk 1% of your account size);
Buy Stop GBP/USD @ 1.3015
Stop Loss @ 1.3005
Take Profit @ 1.30425
*Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
Trade active
Trade 1 is activeTrade closed: target reached
Trade 1 target profit hit, profit +26.25 pips.
Note that we trade a zero spread account. GBPUSD reached 1.30149 just shy of our stop level at 1.3015.
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.