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02.07.202113:14 Forex Analysis & Reviews: Trading idea for GBP/USD

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Dollar continues to soar amid strong employment data in the United States. The report released on Thursday said jobless claims in the US continue to decline, so demand for USD increased in the market. This favors the strategy presented on June 23 and July 1, but GBP / USD is yet to achieve the target levels, which are 1.36700-1.36500.

For bearish traders, this scenario is good news, as they could continue their short positions.

But for bullish traders, this is a nightmare because they are trapped in the market and have nowhere to place their stop orders.

Considering this, it is best not to open new sell positions, at least until the quote falsely breaks through 1.36500.

This strategy is under the framework of Price Action and Stop Hunting methods.

Good luck!

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