Daily Pound vs. Dollar trend prediction for 2024.11.05

(Based on technical analysis) 
You can also view the daily prediction in the Forexer5 software.

Date: Tuesday, 2024.11.05

Trend prediction: Bearish

Sell position rate proposal: 1.2930
Stop loss rate proposal: 1.2960
Initial target: 1.2900
Secondary target: 1.2870

Consider realigning the stop-loss level to the entry point once the initial target price is achieved.

Important capital management note:
Upon establishing a maximum risk threshold (with a recommendation to cap this at 5% of the account balance), it is advisable to allocate the desired risk ratio across various levels, engaging in trading activities with only a fraction of the maximum risk at any given level.

Disclaimer:
The above recommendations are provided for general information purposes only and should not be considered as investment advice. Users acknowledge that they have sufficient experience and knowledge before using these recommendations to enter financial markets and are familiar with the risks involved in these markets.