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GBPUSD Opened with Downward Gap | May 22, 2017

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Gbpusd is facing little support on 1.3030 level. This pair starts the new week with few pips downward gap. It is giving some bearish momentum below the resistance level. If we get this pair below 1.2970 level, then more downward momentum is coming. Otherwise, this pair can go up more.

Today’s GBP/USD Signals

Risk 1% per trade.

Trades must be taken between London and US session today only.

Long Trades

  • Buy zone lies on 1.2940, 1.2970. If we find any bullish pull back candle on H1, then open buy entry.

  • Put the stop loss 3 pip below the recent swing low.

  • Bring the stop loss to entry point once the trade is 20-30 pips in profit.

  • Close 50% of the position as profit when the price reaches 20-30 pips in profit and leave the rest of the position to run.

Short Trade

  • If this pair forms bearish rejection from 1.3080-90 level, then open sell entry.

  • Put the stop loss 3 pip above the recent swing high.

  • Bring the stop loss to break even once the trade is 20-30 pips in profit.

  • Close 50% of the position as profit when the price reaches 20-30 pips in profit and leave the remainder of the position to run.



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