FX.co ★ Tips for trading GBP/USD

Following the strong bearish momentum yesterday, GBP/USD fell into a correction, and by this morning reached the breakdown area, providing sellers with excellent prices to enter short positions.

Market players should take this opportunity and sell the pair from the breakdown area, setting stop-loss at 1.27. Take profit upon the breakdown of 1.26.

The main target should be breaking the trend line and updating the level of 1.25.

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.