This is a try-out position. What I mean is, we have moved a little higher, and we are kind-off hovering with Doji's.
The stochastic RSI is positive on daily chart, and this may signal a sharper run higher.
For that reason we BUY current 0.8470-0.8477 and take profit @ 0.8575 (about 100 pips profit target).
The stop-loss is 0.8402 (73 pips roughly). The leverage let's say low between 0.75x-1.5x.
Dissecting the trade, GBPUSD is not moving much higher and is hampered by GBPJPY cross. EURUSD has more potential higher, so for EURGBP maybe a good idea.
The stochastic RSI is positive on daily chart, and this may signal a sharper run higher.
For that reason we BUY current 0.8470-0.8477 and take profit @ 0.8575 (about 100 pips profit target).
The stop-loss is 0.8402 (73 pips roughly). The leverage let's say low between 0.75x-1.5x.
Dissecting the trade, GBPUSD is not moving much higher and is hampered by GBPJPY cross. EURUSD has more potential higher, so for EURGBP maybe a good idea.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.