GBP Analysis for Potential Buy or Sell Entry

Oct 26

Overview: We’re focusing on a POI (Point of Interest) zone where we expect potential price reactions. This POI zone represents a key support or resistance area, and it will determine whether we enter a buy or sell position depending on how the market price reacts to it.

Plan:

1. If the market price finds support at the POI Zone:

Look for confirmation signals (such as bullish candlesticks, break of recent highs, or volume increases).

Enter a Buy position targeting higher levels, aiming for a positive risk-reward ratio. Identify potential target levels based on previous resistance or Fibonacci extensions.



2. If the POI Zone fails as support:

Wait for the price to retrace back towards the POI zone, testing it as resistance.

Enter a Sell position targeting lower levels, especially if bearish patterns or momentum indicators confirm the move.





---

Key Reminder:
Trading always involves probabilities, not certainties. No strategy is foolproof, and risk management is essential. Make sure to place stop-losses in appropriate positions to protect your capital, and remember that disciplined execution is key.