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13.12.202311:52 Forex Analysis & Reviews: Tips for trading GBP/USD

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Following the release of US inflation data, dollar demand strengthened, leading to a strong downward movement in GBP/USD during the US session. Although the pair did not reach the weekly low, buyers found themselves trapped around the level of 1.25.

The pair continues to decline today, breaking the bullish trend.

Exchange Rates 13.12.2023 analysis

Having this situation, traders should consider short positions with stop-loss set at 1.25600. Take profit upon the breakdown of 1.25000.

The trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

Andrey Shevchenko
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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