FX.co ★ Ambar Hassan | GBP/USD

I am currently planning to sell the GBP/USD currency pair, and I have learned from experience that planning to sell and actually selling are two very different things. I have been exclusively focused on selling this major pair, and I spent considerable time thinking about my entry strategy earlier this week. On Monday, I decided to set a pending sell order, and I positioned it specifically at 1.3678 because I was anticipating a proper pullback. However, I later reconsidered my approach, and yesterday I made the decision to move my pending order slightly lower to 1.3649. I must admit that I executed this adjustment at a time when there was no significant pullback occurring in the market, and I realize now that timing is everything in this business

I observed that the decline in GBP/USD, along with the entire community of pound sterling pairs, was primarily driven by fundamental news coming out of the United Kingdom. I have a strict rule for myself: I do not open trades based purely on news reactions because I find them unpredictable and risky. Instead, I always wait for a proper technical setup, and I specifically look for a pullback that forms a clear zigzag pattern with a Fibonacci retracement level. Unfortunately, none of that materialized this time, and I watched as the market simply reacted to the news without giving me the clean technical structure I require for my entries Despite my missed opportunity, I noticed that yesterday's price action established a local low at 1.3494, and for me, this confirmed the ongoing priority of the downtrend. I firmly believe that the current upward movement I am seeing is merely a corrective pullback, and I am patiently waiting for this correction to complete before I finally execute my sell order. I will continue monitoring the charts closely, and I plan to determine my precise entry target closer to the start of the European trading session, where I expect to see more volume and clearer price action. I am committed to my disciplined approach because I know that waiting for the right setup is what separates successful traders from impulsive ones, and I refuse to compromise my rules even when I feel impatient or frustrated with missed opportunities.