GBPUSD demonstrates increasing bearish pressure across monthly, weekly and daily timeframes. The breakdown of market structure on each timeframe supports a bearish bias, which we explore in the accompanying video. While a recent retracement hints at a potential short entry, upcoming high-impact data releases for both GBP and USD warrant caution.
Strategic Approach:
- Patience: It's prudent to observe how the market responds to significant news events before committing to a trade. - Reassessment: Once volatility subsides, re-evaluate the technical landscape for potential short setups in line with the prevailing bearish trend.
Important Disclaimer: This analysis serves educational purposes only and should not be considered financial advice. Independent research and thorough risk management are essential before executing any trades.