HORIZON: SHORT TO MEDIUM-TERM
Price has broken down of a strong structure level and currently hovering under it. Price is under the 50 and the 8 & 14 crossovers signal a short-term price downtrend. We could see GBP strength continue, which would drive this pair downwards towards the next structure level.
Price could retest the structure level once more, and possibly retest the 50 as well. Look out for a reversal or price action at the structure level before any entries.
Let's see how this works out!