10d ago in General discussion
🔔 GBP/USD Trade Signal - Potential Bullish Move 🔔
Pair: GBP/USD
Current Price: 1.2990
Trade Direction: Buy (Bullish Bias)
📈 Trade Setup & Analysis: GBP/USD is showing signs of a potential bullish retracement, with recent momentum supporting an upward move. Here’s the structured trade plan:
1. Buy Entry:
- Enter: Long around the current price (1.2990) or wait for a slight pullback to 1.2970 for a better entry if price consolidates.
2. Stop Loss:
- Place Stop: Below recent support at 1.2900 to protect against downside risk.
3. Take Profit Levels:
- Primary Target: 1.3100 – First significant resistance level.
- Extended Target: 1.3150 – For those looking to hold longer if bullish momentum continues.
📆 Strategy Notes:
- If price reaches 1.3100 and shows strength: Consider holding or scaling into the position, adjusting your stop to secure some profits.
- If a reversal signal appears at 1.3100 - 1.3150: Be ready to close or consider a potential sell setup from that resistance level.
Summary:
- Buy Entry: 1.2990 or 1.2970 on a pullback.
- Stop Loss: Below 1.2900.
- Take Profit: Primary at 1.3100 Extended at 1.3150 for further upside.
⚠️ Risk Management Reminder: Always trade within your risk tolerance. This setup allows us to capture the upside potential while staying prepared for any signs of a reversal.
Let’s see how this GBP/USD setup plays out! 📊💰
1
0 comments
🔔 GBP/USD Trade Signal - Potential Bullish Move 🔔
skool.com/alpha-capital-forex-signals-5871
Join us for expert Forex signals and insights on all pairs, empowering your trading strategy for success in the dynamic currency market!
powered by