FX.co ★ GBP/USD

#GBP/USD (British Pound / US Dollar). Analysis of the market situation for the instrument on the H1 timeframe shows a high probability of making a profit by entering into a favorable selling deal. The process of choosing the most optimal entry point into the market includes several mandatory conditions. The most important thing is to establish the direction of the current trend on the higher timeframe H4 in order not to make a mistake about the market sentiment. To do this, let's open the chart of our instrument with a 4-hour timeframe and check the main rule - trend movements on the H1 and H4 timeframes should coincide. Thus, by fulfilling the first rule, we ensure that today the market gives us a good opportunity to open a short position. Next, in the analysis, we rely on the signals of three indicators - HamaSystem, RSI Trend, and Magnetic_Levels_Color.

We expect the Hama and RSI Trend indicators to change to red, which is the main evidence that sellers are currently much stronger than buyers. Once this happens, we open a sell order. Exiting the trade is done according to the signals of the magnetic levels indicator. The most probable levels for signal execution today are - 1.23957. Now we need to monitor on the chart how the price behaves when approaching the magnetic level, and make a difficult decision whether to hold the position in the market until the next magnetic level, or to lock in the earned profit. To not miss out on potential earnings, a trailing stop can be activated.