A stop loss (SL) is a price limit entered by a trader. When the price limit is reached the open position will close to prevent further losses. A take profit (TP) works in a similar way - it automatically closes a position once a profit target is reached to lock in profits.
GBP/USD: Upside momentum loses traction – UOB
In opinion of FX Strategists at UOB Group, the upside bias in Cable could be running out of steam. Key Quotes 24-hour view: “We highlighted yesterday
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