Hello Traders! Considering the current status of COVID-19 and the upcoming UK Claimant Count Change (Unemployment Claims) that will be released in a few hours (Around 1 a.m. Central Time), we could expect to see a downward movement of the GBP. If unemployment rates are worse than expected, we can take this opportunity to make a profit by selling the British Pound. Again, due to the extremely high volatility of the markets in these past weeks, there still is a possibility that the markets could bounce up instead. For that reason, I would suggest using "Sell Stops" at a lower price point instead of current market execution so that you can add a layer of risk management in case the markets don't move downward.
Thank you for considering my opinion on GBP/USD!
- ALPHALICIOUS
Disclaimer: This is my personal opinion on the upcoming markets. I am not responsible for any trades that you place. Please trade using proper risk management and your own analysis. Thank you.
Thank you for considering my opinion on GBP/USD!
- ALPHALICIOUS
Disclaimer: This is my personal opinion on the upcoming markets. I am not responsible for any trades that you place. Please trade using proper risk management and your own analysis. Thank you.
Trade closed: target reached