GBPUSD H4 - Short Signal

16 Nov 2023

GBPUSD has experienced a substantial 2R decline. Stops, as previously noted, were on the larger side, presenting traders with the choice of adopting either an aggressive or conservative approach. The conservative option offered a lower risk-reward ratio but increased the likelihood of holding onto the trade, while the aggressive strategy involved tighter stops and a higher risk-reward ratio but also a greater chance of being stopped out.

The market is progressing favorably at the moment, finding some support around the 1.24 level following a 100-point drop. It will be interesting to observe the unfolding developments throughout the day.