FX.co ★ Tips for trading GBP/USD

GBP/USD continues to be in a downward trend. Buyer liquidity could be seen at 1.25886, and from this, there may be a correction, which will provide good prices for short positions.

So, considering the three-wave pattern (ABC), where wave A represents the downward movement during the US session, market players could sell the pair up to the 50% retracement level.

Set stop-loss at 1.27853 and take-profit at the breakout of 1.25800.

The trading idea came from the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.