GBP/USD SHORT SETUP | Bearish Move Incoming? (15M)

Sep 1

We have an ABC correction on the chart. After the ABC, price retraced higher and formed an X-wave. This X-wave appears to be a completed triangle.

We have two entry zones where we will look to enter a SHORT position.

Targets are clearly marked on the chart.

At the first target, which offers more than 1:1 R/R, make sure to secure partial profits.

If the stop-loss is hit, we will exit the position.

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Do you think GBPUSD is bullish?

Sep 1

Trade active

Price dropped more than 36 pips from the entry zone, and the first target has been hit.