FX.co ★ Trading idea for GBP/USD

GBP / USD increased in price, trading near 1.37600 last Friday.

As a result, sellers are forced to place their stops at 1.37600, which suggests that it is a bad idea to open short positions in GBP, especially since there is a high chance that the quote will break above 1.37600 (by around 20-50 pips).

But of course, traders still need to carefully assess the situation before placing any position. As we all know, trading is very precarious, but profitable as long as a correct strategy is used.

The plan above follows Price Action and Stop Hunting methods.

Good luck!