Feedback Would be apreciated
My analysis, for the upcoming days;. We Start With The Major (1.36-1.35) that stopped GU from Climbing higher.
Second bounce happened 2 days ago after trying to break this major , similar bounces happened before which led to a big fall. Using the Fib retracement tool help us to see clearly the resistance and support levels that GU is ranging in between for the last 2 months.
Drawing a can also help to clearly see the next move for this pair.
You can also use other tools to make you 100% confident about this trade, Like and . which all will lead to the same Call;
Which is SELL GBP/USD , you can see the Take profit areas defined by the FIB tool, you can place positions along the way as we might see a lot of upper correction waves.
Stop losses are not needed as long as you are placing logical lots, and managing your Balance and risking the right amount.
Goodluck, Thank you
Will Keep you updated.