The GBP has lost significant ground against the USD with the NFP report that came out last week, but further sell-off is expected. We could see it drop up to 4 or even 5%. I am going to take advantage of the USD strength with the following trade:
Sell 1 unit GBP/USD @ 1.65750, SL= 1.66500, TP=1.64825
Risk: 75 pips, $750/$75
Reward: 100 pips, $1000/$100
From the Desk of
Aaron Reid
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