FX.co ★ GBP/USD

#GBP/USD (British Pound / US Dollar). According to the technical analysis of the currency pair/instrument on the H1 timeframe, trading on the decline of quotes looks very reasonable. The algorithm for selecting the most attractive option in terms of achieving good profit includes a combination of several important preliminary conditions. First of all, it is necessary to correctly determine the true direction of the current trend on the higher timeframe H4, in order not to make a mistake in determining market sentiment, which can lead to financial losses. So, let's open the chart of our instrument with a 4-hour timeframe and check the main condition - trend movements on the H1 and H4 time periods must coincide. Thus, by checking the fulfillment of the first rule, we ensure that today the market gives us an excellent opportunity to enter a short trade. In the subsequent analysis, we will rely on the indications of three working indicators - HamaSystem, RSI Trend, and Magnetic_Levels_Color.

We wait for the moment when the Hama and RSI indicators repaint in red, which will be considered the main confirmation that sellers currently dominate the market. As soon as this happens, we open a sell trade. We exit the position in accordance with the readings of the magnetic levels indicator. Today, the most probable levels for signal execution are as follows - 1.23027. Next, we will carefully monitor the price behavior on the chart as it approaches the selected magnetic level, and decide how to proceed - whether to leave the position in the market until the next magnetic level, or take the profit already earned. To increase potential earnings, a trailing stop can be activated.