Gbp Usd Short Opportunity
I see opportunities to short this Asset pairing based on a number of factors. My main targets would be based on 1.26861 and 1.2648 for a short. Looking at overall market structure, the bullish trend was broken within the last three days. with this in mind, I see price retesting the bottom edge of this trend before continuing downwards. My Fibonacci was drawn from the highest to lowest points within this movement, and currently we are within an important range to see a reversal. On a Daily/ Weekly timeframe... we wee that the 9 & 18 Ema suggest Bearishness to continue. I would like to see what the Asian session and London sessions divine, since I anticipate a daily high being printed within these timeframes to set up a continuation downwards. I believe that far too much liquidity exists within the previous daily candle. My target would be below the low of the previous day.
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