FX.co ★ GBP/USD

#GBP/USD (British Pound / US Dollar). Hello everyone! I see a great opportunity to make a profit by forecasting the instrument on the H1 timeframe. To do this, let's correctly determine the market direction and make an optimal entry into the market to achieve a good profit. First of all, it is important not to make a mistake with the preferred direction (opening long or short positions), so let's open the chart of our instrument with a 4-hour timeframe and check the current trend. We make sure that today the market provides us with an excellent opportunity for long positions. Next, we will apply the HamaSystem, RSI Trend, and Magnetic_Levels_Color indicators in our analysis.

According to the Hama and RSI Trend indicators on the H1 timeframe, we also observe a bullish sentiment - both indicators are colored in blue and green, indicating the predominance of buyers in the market. Therefore, we confidently open a buy trade. We will exit the position based on the signals of the magnetic levels indicator. The ideal levels for today's trade are 1.26562. Then we will observe the price behavior on approach to the magnetic level on the chart and decide whether it is more appropriate to hold the position in the market aiming for further profit growth, or confidently take the profit already obtained. You can use the Trailing stop tool available in the MT4 trading terminal.