GBP/USD is looking bearish this week, with the pair trading below 1.3100. Here’s a potential trade idea:
Bearish Scenario:
– Sell GBP/USD if it breaks below 1.3050, targeting 1.3000 and 1.2950.
– Stop-loss above 1.3150.
Bullish Scenario:
– Buy GBP/USD if it breaks above 1.3150, targeting 1.3200 and 1.3250.
– Stop-loss below 1.3050.
Key levels to watch:
– Support: 1.3050, 1.3000, 1.2950
– Resistance: 1.3150, 1.3200, 1.3250
The UK Autumn Budget and US economic data releases will likely impact the pair’s movement. Keep an eye on these events for potential trading opportunities
