GBP/USD analysis - 22 Oct 2024

Updated
1.3015 acts as an important level today & if price stays below this level then we expect it to hit our target profit at 1.2978.75.

If price breaks above 1.3015 then it should hit 1.30425.

Below is our recommendation;

Trade 1 (Risk 0.5% of your account size);
Sell GBP/USD @ 1.3005
Stop Loss @ 1.3015
Take Profit @ 1.2978.75

Trade 2 (Risk 1% of your account size);
Buy Stop GBP/USD @ 1.3015
Stop Loss @ 1.3005
Take Profit @ 1.30425

*Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
Trade active
Trade 1 is active
Trade closed: target reached
Trade 1 target profit hit, profit +26.25 pips.

Note that we trade a zero spread account. GBPUSD reached 1.30149 just shy of our stop level at 1.3015.
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