CapitalHillFX

Sell Opportunity on GBPUSD

Short
OANDA:GBPUSD   British Pound / U.S. Dollar

The market structure on GbpUsd seems to be shifting from a bullish to bearish sentiment on the daily timeframe . Ever since price has approached the Weekly Resistance Level , sellers have made themselves more apparent and clear downtrend structure has been established.

Scoping into the 4H charts, the most recent bearish candle has aggressively broke through the Daily Significant Level. This break in support could potentially indicate bearish strength, adding to the long-term bias as well. If we could retest this level as potential resistance and follow with strong bearish rejection, I'll be looking for sell opportunities.