DESCRIPTION:
Now the GBP/USD hit the target at 1.5275, this will confirm the bearish momentum for this currency; however there will be small to medium pullback to the upsides as a sign of the healthy downtrend as long they do not breach the 1.5450 level.
Recommendation:
Buy stop (pending order) at 1.5251.
Take profit at 1.5265.
Stop loss at 1.5241.
Alternative:
Sell stop (pending order) at 1.5224.
Take profit 1 at 1.5210.
Stop loss at 1.5234.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
https://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
