GBP | Pound | Breakout Strategy Guide | PDF

Learn how to trade the pound breakout strategy and some effective ways to beat the smart money. We’re bringing to you a day trading strategy that has been successfully used by our Pound traders. The Pound breakout trading strategy incorporates secret trading concepts that you can take advantage of in the Forex market.

Everyone has heard of breakout trading. As the term implies, breakout trading strategies attempt to identify price movements that are “breaking” from a predictable range. These ranges can be captured via Bollinger Bands and various other technical indicators.

Throughout this trading guide, you’re going to learn about a specific breakout about the London open breakout strategy.

We’re going to reveal some trading secrets to help you implement the opening range breakout technique in your own trading.

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What is GBP?

The British pound sterling is also known as GBP. GBP is one of the chief currencies and traders around the world follow it closely. The pound is divided into smaller parts known as penny sterling which is one-hundredth of a GBP. Instead of pounds a lot of stocks are dealt in pence and in such cases, the stock exchange would use GBX or GBP in order to specify the difference between pence and pounds. Although pound sterling is the official name of GBP it is seen that GBP or sterling is generally used in accounting as well as foreign exchange situations.