FX.co ★ Tips for trading GBP/USD

For the first time in a long while, the upward movement in GBP/USD disrupted the bearish trend, leaving seller liquidity below 1.25100.

Looking at the three-wave pattern (ABC), where wave "A" represents the bullish momentum earlier, traders could consider long positions, with stop-loss placed at 1.24661 and 1.24500. Take-profit could be set upon the breakdown of 1.25100.

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.