GBPUSD - Short Position, R:R 1:5GBPUSD - Short Position, R:R 1:5. I am taking a short trade on GBPUSD after price has shown rejection on lower timeframes (15M & 1H) and is respecting the descending trend line. My target is the next key level at 1.21700 which gives me a great R:R of 1:5. When applying the Fibonacci Retracement tool, price is also showing rejection at the 61.8% level which gives me a strong indication that price will soon drop to the downside.
