British Pound's Next Rounds
(Analysis of the British Pound)
The British Pound has been experiencing a decline. Our chart analysis reveals a consistent trend respecting established support and resistance zones. Currently, the trend is bearish, with a recent reversal from the resistance zone. To manage risk, we've set our stop-loss above the resistance level.
Trade Strategy:
We've divided our take-profit into two parts:
1. The first target is at the support level.
2. The second target is below the support level.
Trade Management:
If the first take-profit is achieved, we'll monitor the trend for a potential breakdown. If it occurs, we'll proceed to the second take-profit. However, if the trend reverses from the support level, we'll close our positions with only the first take-profit.
The British Pound has been experiencing a decline. Our chart analysis reveals a consistent trend respecting established support and resistance zones. Currently, the trend is bearish, with a recent reversal from the resistance zone. To manage risk, we've set our stop-loss above the resistance level.
Trade Strategy:
We've divided our take-profit into two parts:
1. The first target is at the support level.
2. The second target is below the support level.
Trade Management:
If the first take-profit is achieved, we'll monitor the trend for a potential breakdown. If it occurs, we'll proceed to the second take-profit. However, if the trend reverses from the support level, we'll close our positions with only the first take-profit.
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