Short

GBP/USD Parity: Leveraging Favorable Risk-Reward Dynamics

Updated

I intend to initiate a short position from this zone, targeting a risk-to-reward ratio of 1:1. However, the probability of success seems remarkably high given our current circumstances, even suggesting the possibility of adjusting my stop loss to augment the position for the 1.231 area. Time will tell.

Note

Closing half of my position on GBP/USD here and keeping the rest for the TP zone. Still in the trade but taking some money off the table.

Note

I'm moving the stop loss for the other half to the entry zone

Trade closed: target reached

I've closed the remaining position here and I'm looking for a long entry zone, probably another small move up for DXY and then a pullback. GBP looks pretty good, so I'm confident it's one of the pairs that will have a serious bounce

FonF0n

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