FX.co ★ Tips for trading GBP/USD

Following this week's events, GBP/USD fell in price, reaching a quarterly low. However, price action may converge around 1.24200 in the near future.

This means that traders could consider long positions from the current prices, placing stop-loss order at 1.22670 and 1.22353. Set take-profit upon the breakdown of 1.24200.

The trading idea follows 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.