Bought the dip in GBP/USD, do you think it would go up ?

Hello traders, on account of US Dollar demand across the board due to news about the escalating Iran-Israel conflict, GBP/USD fell quite rapidly during the Asian Trading session on Friday.

However, in the 4-hour chart, we can see that the price is currently at the lower trend line of the price channel. So, if the lower TL holds, traders can consider going long in GBPUSD@1.24 with target around the 1.26 level

I bought at 1.2395 and I am currently holding this buy. Let's see if GBPUSD moves up over the next few days.

Commento:

UK Retail sales data coming up, so be careful with position sizes

Trade attivo:

Buy@1.24 done

Commento:

33 pips running profit now

Trade chiuso manualmente:

Closed@1.2460 as price is struggling at the hourly resistance