In the forex market, there is a potential buying opportunity for the GBP/USD currency pair. The price has reached a specific zone that indicates a favorable entry point for Sellers. Traders can consider initiating a Short position on this pair, expecting the dollar to appreciate against the GBP.
To manage risk, it is recommended to set a stop loss (SL) order at 30 pips above the entry price. This means that if the trade goes against expectations and the price up by 30 pips, the position will be automatically closed to limit potential losses.
To manage risk, it is recommended to set a stop loss (SL) order at 30 pips above the entry price. This means that if the trade goes against expectations and the price up by 30 pips, the position will be automatically closed to limit potential losses.