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The GBPJPY currency pair is at the fork in the road
The GBPJPY currency pair is at the fork in the road
After a dizzying rise, the British pound was unable to hold new highs. The price returned to the middle of the big channel. After crossing the 200 moving average, the price created a new fractal on the 4-hour chart. We will use the breakdown of the fractal low as a signal to open a short position with a target of 50 pips to the nearest support level.
Symbol: GBPJPY
Order Type: Pending Order - Sell Stop
Entry Price at 152.90
Take Profit at 152.40
Pips Earning: 50
Forex trade strategy for major currency pairs:
EURUSD sell at the price of 1.1270
USDJPY buy at the price of 114.20
GBPUSD sell at the price of 1.3435
USDCHF buy at the price of 0.9205
Forex Trading Recommendation
The profit can be $476.19 if the trading volume of 100000 GBP (1 Lot).
The profit can be $476.19 if the trading volume of 100000 GBP (1 Lot).
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