FX.co ★ GBP/USD. February 6. A new trading idea has started to be implemented! Strong line correction could not resist!

GBP/USD-4H.

Good day, dear traders! In previous reviews, I said that the global trend line is now very important for determining the mood of traders. Yesterday, the pair's quotes performed the fifth rebound from it, and today - the closing was performed under it. I recommended in yesterday's review to keep buying until one of the goals (1.3074 and 1.3107) is fulfilled, or until the release of American reports on business activity in the service sector and ADP. It turned out that in the US session, the pair performed a reversal in favor of the US dollar and returned to the global correction line. And already today, the pair still performed a consolidation under this line, which activated my second trading idea, which consists of selling "Briton" with a minimum target low level - 1.2904. The second goal is the next low level - 1.2789. I believe that after the bear traders managed to break through the correction line, the pair and the pound may suffer serious losses. So I'm only set up for sales right now.

Forecast for GBP/USD and trading recommendations:

The new trading idea is to sell the pound with a minimum target of 1.2904 (this is the first target, the drop in quotes can be much stronger). The trading idea of buying on the rebound from the correction line has been canceled for obvious reasons. Today, the divergence is not observed in any indicator.