GBPUSD Trading Idea

We can see that price is going to bounce from MA100 (yellow line) and 1.26000 level. RSI confirms price reversal and we just need to wait when MACD histogram moves up. After that we'll have a buy signal. Entry levels for long trades can be above the high of the signal candle or just place buy-stop orders higher 1.28000 level. Profit target should be at 1.30000 level. Long trades can be opened based on the daily and hourly charts. If price breaks MA100 and the support level, we'll have a short opportunity. Place sell-stop orders below 1.26000 and stop above 1.27000 level. Profit target for short trades should be at 1.24000 and 1.22000 levels. Short trades can be opened based on the daily and hourly charts.

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