Hi, dear traders! Let me share my trading idea for GBP/USD with you.
Today I would like to discuss a trading idea for GBP/USD for the week ahead. This scenario is in progress because the price is putting pressure on the support level.
The instrument closed last week with a curious pin bar under selling pressure. Under such market conditions, it makes sense to consider a trading plan to sell the currency pair.
On the chart: stop losses of the buyers
In fact, we are dealing with the ABC structure where wave A acts as a selling impulse of the last week.
I suggest we plan short positions so that we could enter the market during a retracement according to the scheme on the chart.
The trading idea is based on the Price Action strategy as well as the Stop Hunting strategy. Good luck in trading! Manage your risks!
