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01.07.202114:51 Forex Analysis & Reviews: Trading idea for GBP/USD

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 01.07.2021 analysis

Congratulations to those who followed the trading strategy presented last June 23 ! The plan was to decrease the rate of GBP / USD by completing the three-wave (ABC) pattern that developed in the daily chart.

Exchange Rates 01.07.2021 analysis

At the time of writing, GBP / USD already hit the first target, which is the level of 1.37800.

Exchange Rates 01.07.2021 analysis

Thus, traders can now close 2/3 of the positions, and keep the remaining ones on the second target. This follows the framework of Price Action and Stop Hunting strategies.

Good luck!

Andrey Shevchenko
Analytical expert of InstaForex
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