GBPUSD
has confirmed its rejection to the 6 month descending channel. With GBP fundamentals along with the global decline in GBP, we believe that GBPUSD is about to start a new bearish wave that may last for weeks. Adding to that, we also see that GBPUSD is highly overbought suggesting that correction is likely to push the price down to the lower bounds of the channel. We suggest the following levels: Entry: 1.3620
SL: 1.3741
TP: 1.3015
P/L ratio: 5X
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Taking this opportunity requires holding for weeks, but with patience, the price should reach the target. If you decide to take this opportunity, always use risk management and don't risk more than 1% of your capital per position. Don't risk what you cannot afford to lose. If you like the idea, please like it and follow us for more ideas! Happy trading from the AIE family and have a great day!
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