15.01.202113:13 Forex Analyse & Reviews: Trading idea for GBP/USD

Exchange Rates 15.01.2021 analysis

Very weak economic data came out from the UK this morning.

Exchange Rates 15.01.2021 analysis

As a result, GBP / USD traded near a price level of 1.37.

Exchange Rates 15.01.2021 analysis

Taking this into account, it is best to open short positions today, following this strategy:

Exchange Rates 15.01.2021 analysis

In the daily chart, set up sell positions to 1.36 after a pullback. But if the quote undergoes a true breakout (at 1.36), hold positions up to 1.34.

Aside from that, risks are needed to be monitored to avoid losing money. Trading is very precarious, but also profitable if the approach used is correct.

The strategy above uses Price Action and Stop Hunting methods.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Uitgevoerd door Andrey Shevchenko,
Analytische expert
InstaForex Group © 2007-2021
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