Hello traders, GBP/USD is trading at 1.3942. The price is trading in upward resistance and support channel and moving towards resistance level . If the price rebounds back from resistance level then it can possibly touch its support level . So, the entry price for short will be 1.3966, if the price rebounds from resistance level and its target will be at 1.3911.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
