FX.co ★ Tips for trading GBP/USD

The intrigue in GBP/USD is the seller's area at the level of 1.2223, which may be approached according to this scenario.

Looking at the three-wave pattern (ABC) where wave A represents yesterday's short momentum, traders could considering short positions with a 50% retracement from the level of 1.211. Take profit upon the breakdown of 1.2223.

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.