Current GBPUSD 15m Short Position AnalysisResistance Level / Supply Zone:
Price has previously reached the upper bound (around 1.34000), tested it multiple times, and was rejected — indicating a resistance zone.
The latest candle appears to be forming a rejection wick, suggesting failure to break above that resistance.
Trend / Price Action Context:
Price has been oscillating in a range-bound or consolidation pattern between roughly 1.33400 and 1.34000.
The trader likely anticipates a mean reversion or continuation of the range movement back toward support.
Entry Timing:
The trade is entered just below resistance, anticipating a reversal before it breaks out.
This is a counter-trend trade unless it’s part of a larger time frame downtrend (not visible on this chart).
Risk-Reward Ratio:
Stop Loss: ~21 pips (from 1.33793 to 1.34000).
Take Profit: ~44 pips (down to ~1.33350).
This yields a reward-to-risk ratio of roughly 2:1, which is favorable.
