GBPUSD - Daily Trading Plan (March 4th, 2025)Yesterday’s plan worked well — I was long on GBPUSD, and we are now testing the 1.2700 resistance zone this morning. This level is acting as a pivot for now.
⚠️ I expect a potential wick towards 1.2750, especially if liquidity above the morning high gets hunted. That would be a natural target for the first part of the session. However, if buyers fail to hold above 1.2700, we could revisit support down at 1.2615.
There’s a wide range to trade today — plenty of pips to catch between 1.2615 and 1.2750.
🔔 This afternoon, all eyes will be on the FED speech, which could shake the dollar. On top of that, there’s fresh geopolitical news: Trump reportedly plans to stop military aid to Ukraine if elected. This type of headline tends to favor the dollar as a safe haven.
Overall, I wouldn’t be surprised to see a bearish or choppy session later in the day if risk-off flows pick up.
🎯 My plan:
Scalping long above 1.2700 towards 1.2745/1.2750 if momentum holds.
Watching for rejection at 1.2750 to flip short.
Target on the downside: 1.2650 then 1.2615.
