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GBPUSD H16: BEST Level to BUY/HOOD TP +500/+750 pips (UPDATE) for FX:GBPUSD by ProjectSyndicate

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GBPUSD H16: BEST Level to BUY/HOOD TP +500/+750 pips (SL/TP/UPDATE)

IMPORTANT NOTE: speculative setup. do your own

due dill. use STOP LOSS. don’t overleverage.

Tagged as SHORT because I expect more losses

and reversal from HEAD level

🔸 Summary and potential trade setup

::: GBPUSD16 hour/candle chart review

::: higher risk setup: SHORT AT MARKET OPEN

::: TP BEARS is 3400 HEAD

::: strong bullish chart accumulation

::: setup still valid as of right now

::: higher risk strat: SHORT at market

::: exit at 3400/3440 later

::: if shorting near market open

::: make sure you use a tight SL

::: in progress focus on buying low

::: recommended strat: BUY DIPS 3400/3440

::: currently not the best spot to trade though

::: primary option: focus on buying dips / accumulation

::: bulls should wait for re-test near range lows to BUY

::: speculative IHS setup BULLS

::: BULLS will target re-test of neckline

::: HIGH RISK setup so do

::: your OWN DUE DILL

::: based on mid-term outlook

::: expecting more gains in GBPUSD

::: TP1 +500 TP2 +750 pips

::: good luck traders

🔸 Supply/Demand Zones

::: 3400 fresh demand zone

::: 4200 fresh supply zone

🔸 Other noteworthy technicals/fundies

::: TD9 /Combo update: N/A

::: Sentiment short-term: BEARS/PULLBACK

::: Sentiment outlook mid-term: BULLS

RISK DISCLAIMER:

Trading Futures , Forex, CFDs and Stocks involves a risk of loss.

Please consider carefully if such trading is appropriate for you.

Past performance is not indicative of future results.

Always limit your leverage and use tight stop loss.

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