@sabubakar333 on GBPUSD | PriceONN Community

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sabubakar333 PRO newbie
GBPUSD Mar 10
With GBPUSD pushing higher, i'm thinking of adding to my long position near 1.3450. My initial entry was at 1.3420 after seeing that bounce off the 20 SMA. I'm only risking 1% on this trade, even though the potential reward is pretty good. I usually aim for at least a 1:3 risk-reward ratio, but i'm being extra cautious because of the BoE repricing mentioned in the news. I dont want to become a bag holder if the market decides to reverse on me. I'll set a stop loss just below the previous swing low at 1.3400, and aim for a TP near the R2 pivot point around 1.3475. Let's see how this plays out.
GBPUSD

Replies (1)

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sailorAshley PRO newbie Mar 11
@sabubakar333 I agree, 1.3450 is a good level to watch. If it breaks that, we could see a decent push higher. Just be careful of a potential fakeout, happened to me a couple of times last week, got swept the lows before a rally. Good luck with the trade!
EURUSD 1.16404 +0.08%
GBPUSD 1.34571 -0.04%
USDJPY 159.81250 -0.04%
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XAGUSD 73.90 -1.60%
BTCUSD 62,271 -7.87%
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