Hi Guys i am seeing a bearish move for GBPUSD and i have placed my sell order here with the take profit of 1.36. The reason why i am taking this trade is because you can see that USDJPY is in Bullish channel and the further news of the US will affect it so it will move into this channel guided by good news for the dollar on Monthly timeframe I could see that GBPUSD have hit a great resistance 1.38300 area so it will sell further in my opinion what is your opinion guys ?
The way i make my analysis in market is i look for monthly support and resistance area and then i carefully make my trades. My strategy is to look for monthly setups in which support and resistance is already hit and then i take my trade according that.
Update: currently the trade is in profit will update u when hit take profit
Edited 09 Apr 2021, 18:42
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