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FonF0n

GBP/USD Parity: Leveraging Favorable Risk-Reward Dynamics

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
FonF0n Updated   
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators
5
2
trendanalysis chartpattern indicator
I intend to initiate a short position from this zone, targeting a risk-to-reward ratio of 1:1. However, the probability of success seems remarkably high given our current circumstances, even suggesting the possibility of adjusting my stop loss to augment the position for the 1.231 area. Time will tell.
Comment:
Closing half of my position on GBP/USD here and keeping the rest for the TP zone. Still in the trade but taking some money off the table.
Comment:
I'm moving the stop loss for the other half to the entry zone
Trade closed: target reached:
I've closed the remaining position here and I'm looking for a long entry zone, probably another small move up for DXY and then a pullback. GBP looks pretty good, so I'm confident it's one of the pairs that will have a serious bounce
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