Good day, traders!
A pullback was seen in GBP/USD after the massive downward movement at the end of last week. It went to the 50% retracement level, which left buyers at the level of 1.23400.
Now, there is a three-wave pattern (ABC), in which wave A is the representation of the bearish pressure last week. This means that traders can enter the market by selling to the 50% retracement level, with stop loss set at 1.24700 and 1.25400. Exit the market by taking profit upon the breakdown of 1.23400.
This trading idea is based on the "Price Action" and "Stop Hunting" methods.
Good luck and don't forget to control the risks! Have a nice day.
