25.10.202106:30 Forex Analysis & Reviews: Trading plan for GBP/USD on October 25, 2021

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.

The upward movement of the GBP/USD pair is still a medium-term impulse. Last Friday, a favorable price was obtained to buy the instrument. Now, there is an 80% probability of updating the October high.

The above-mentioned facts indicate the need to hold the purchase of the instrument to the monthly extreme. When updating the high, partial fixation of purchases will be required. The rest must be converted to breakeven, in case a "false breakdown" pattern of the daily level is formed.

The pair is trading within the monthly zone of the average move, so when the October high is updated, the probability of a large supply will significantly increase. To date, sales are not profitable, so it is necessary to hold purchases and concentrate on finding favorable prices to open additional long positions if one is not a buyer.

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.