Getting ready for GBPUSD Trades
I was going to sell GBPUSD if the pair closes below 1.24000. But it didn’t made it down there, stopping at 1.25000. Moreover, prices have formed an ascending channel with targets at 1.29000-1.3000. I’ve designated an entry point for a long trade at the retest of 1.26000 level. However, I’ll keep in mind a possible selloff plan if the pair hit the stop-loss at 1.24400. This will signal a likely further decline to 1.20000. I will go short at the retest of the 1.24000 level then.
Both scenarios promise a good profit:)
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