Result: Profitable Trade
Forecast – BEARISH
Date Posted: 4 May 2020
Chart Timeframe: HOURLY
Current Trend: UP
Key Tech Level: 1.2475
Trade Action: SELL A BREAK
Stop Loss -30 pips
Take Profit +90 pips
Chart & Forecast Details
GBPUSD has had a good run to the topside as the USD safe-haven default was rolled back out. But that scenario has changed significantly as Lockdown rules are rolled back and Trump sparks up the tension with China with regards adding more Tariffs to their Exports. That creates a huge amount of uncertainty and should see the USD rally again which means GBPUSD should fall.
We’ve got a solid support level to work with as well. Remember, keep tight trailing stops in place to maximize profit potential and mitigate any pullbacks after the break.
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