GBP/USD breakout trade setup with trading strategy inside

In the H4 timeframe, GBP/USD just broke out from the resistance at 1.3000. A pullback testing the resistance-turned-support is currently unfolding. This is a nice phase since this pullback could setup either reversal or breakout setup for GBP/USD. Watch the video below where I explain in detail how to trade the breakout with this simple yet effective strategy that will increase your winning rate, using S&P 500 as a case study.

Below are the key parameters for GBP/USD potential long setup for trading session on 12 Oct 2020.

Entry: long stop order at 1.3063

Stop loss: 1.2980

Take profit: 1.3225

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