Now we have potential sell zone in $GBPUSD just before Rate decision:
Major structure zone
Two lines (50 and 200)
The potential continuation scenario shown above suggests that $GBPUSD will continue lower and break 1.5 in order to reach pattern completion near 1.47-1.48
1.5 is still a very strong and should be set as target level.
Stop loss should be at least above the 200 line (for swing traders). Day traders should probably look for reversal patterns in smaller time frames in order to better time their entry and reduce their risk.
High Risk - Rate during Holidays season (a week before FOMC)
Tomer, The MarketZone.net
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