GBPUSD - Look for Continuation Long (SWING) 1:3.5!
Updated
GBPUSD is closely related to XAUUSD and the DXY basket of six pairs, providing excellent confluence and confirmation opportunities for trading pairs against USD. Currently, GBPUSD has created a new high and is correcting to the nearest RBS Zone, a demand zone, indicating a potential continuation of the bullish momentum in the higher timeframe. The price doesn't seem likely to yield to sellers soon, especially considering the FED's recent decision to freeze interest rates. This suggests a forecast of continued upward movement supported by strong bearish signals and a few high-impact USD news events this week.
We'll need to observe how the market reacts to these sentiments and news impacts. Regardless, it's crucial to manage your risk wisely and wait for a clear market structure before making any moves.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
We'll need to observe how the market reacts to these sentiments and news impacts. Regardless, it's crucial to manage your risk wisely and wait for a clear market structure before making any moves.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Trade closed manually
Stopped out at -15 pips. With the right risk management, this barely impacts our emotions. There's no such thing as a flawless entry in trading. On to the next one!
_S.Fx_
Disclaimer
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