Here's a breakdown of your GBP/USD trading plan with key levels

Trade Plan Overview

Current Price: 1.25700

Position: Short (Sell)

Target: 1.24500

Stop Loss: 1.26600

Risk-Reward Ratio: ~1:1.33

Trend: Bearish



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30-Minute Chart Analysis

1. Bearish Trend:
The chart should show consistent lower highs and lower lows, aligning with the bearish momentum. Confirm with moving averages (e.g., EMA/SMA) sloping downward.


2. Key Resistance Levels:

1.25700 (Entry): Recent resistance level or where selling pressure is expected.

1.26600 (Stop Loss): Positioned above a significant resistance zone to account for potential pullbacks.



3. Key Support Levels:

1.25000 (Intermediate): Watch for minor support near this psychological level.

1.24500 (Target): Positioned near a recent low or a significant support zone.



4. Indicators to Watch:

RSI: Ensure it’s below 50 (preferably oversold zone near 30 for added confirmation).

Volume: Increasing volume on downswings to confirm selling pressure.





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Risk Management

Lot Size: Adjust based on risk percentage of your account (e.g., 1%-2%).

News Events: Be cautious of GBP or USD-related news that could trigger volatility.