FX.co ★ GBP seller trap

Good day, dear traders! I present to your attention, a trading idea for GBP / USD.

Last week's main event from Lonon was the statement of Finance Minister Sajid Javid, who did not share Boris's views on the trade agreement with the European Union. On this news, the GBP / USD pair rose by more than 1000p.

On top of that, positive GDP news was released for the pound yesterday. Both these factors raised the currency by 1,700p, securing it at 1.3:

Meanwhile, the sellers of the pair can obviously hide their risks (stops) behind the nearest and incredibly clear level of 1.30700, which you can see on the chart above.

In addition, the false breakdown of the US correction has already passed last Friday:

To those who have not bought yet, work from longs inside the day, with profit taking at the breakdown of 1.30700.

If the breakdown doesn't happen today, it will be tomorrow, on the release of the British unemployment rate:

Good luck in trading and control your risks!