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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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Trading the trend: long GBP/USD

We would like to jump on the GBP/USD medium-term uptrend and go long the cross, with a stop loss below the 24 May low at $1.2675, and an upside target just below the $1.3000 mark.

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Forex Commodities GBP/USD United States dollar Order Pound sterling
Written by: Axel Rudolph | Market Analyst, London
Publication date:

(AI Video Summary)

Previous trading outcomes

In this week's episode of "Trading the trend," Axel Rudolph discusses various trade strategies and the importance of setting the correct stop-loss levels. Notably, a long position was taken on the TUI shares despite an initial decline after a poor entry, the trade remained open with adjusted stop-loss levels reflecting new lows.

The EUR/USD long position was stopped out due to a significant drop following European elections.

Unsuccessful short attempts on natural gas prices and a fluctuating gold trade is also highlighted.

This week's trading opportunity

The focus then shifts towards a new strategy to go long on GBP/USD, with a stop loss below the 24 May low at $1.2675, and an upside target just below the $1.3000 mark.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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