At the moment GBPUSD is trading at 1.3344, The pair dropped almost 200 pips plus and found support at 1.3217 already marked on previous chart. keeping in view
brexit issue and new strain of corona virus the pair was under selling pressure.
Trading Plan
we will monitor the price on H4 if price closes below 1.3387 than we expect the pair to drop from 1.3370-1.3380 range and will likely find support at 1.33270
and on other side if H4 closes above the marked point which is 1.3387 to 1.3397 in that scenario we will be buying the pair with first target at 1.3495 to 1.3506
at the moment we dont have open position we will monitor the closing of H4 and than day closing (i will recommend target for 40 pips or move stoploss to break even price when trade is in profit)
best of luck
brexit issue and new strain of corona virus the pair was under selling pressure.
Trading Plan
we will monitor the price on H4 if price closes below 1.3387 than we expect the pair to drop from 1.3370-1.3380 range and will likely find support at 1.33270
and on other side if H4 closes above the marked point which is 1.3387 to 1.3397 in that scenario we will be buying the pair with first target at 1.3495 to 1.3506
at the moment we dont have open position we will monitor the closing of H4 and than day closing (i will recommend target for 40 pips or move stoploss to break even price when trade is in profit)
best of luck
Trade closed: target reached