25.05.202010:22 Forex Analysis & Reviews: Trading idea for GBP/USD

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Good afternoon! A trading idea for GBP/USD:

The trading idea on May 21 was to open long positions in the area of the round level 1.22.

Quotes are now slightly below 1.22, in the area of the Fibonacci retracement level 38.2%.

The plan is not canceled, but consider the following scenario for the dynamics of the pair:

Wait for an initiative that will take the pair beyond the round level 1.22.

From a rebound, work for an increase, targeting the goals shown in the plan on May 21:

The plan for the pair looks like this:

The UK is on a day off today, so an increase in volatility is not expected:

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.