GBPUSD SHORT PRICE ACTION FORECAST

GBP remains under a bearish bias across the board. The BREXIT talk burden on the British Pound has created this sell-off in the currency. Now technically speaking, all stars are aligned with the price action forming a clear HL&LL, a bearish pin bar right at the Fibonacci golden level 5.0, ending the correction of the downtrend movement.

The above mentioned confirm the remaining downtrend in the pair, allowing the setup of a sell order to capture the momentum toward the demand zone from a higher time frame at D1.

The order:
Type: sell-stop
S/L: 95 pips - R:R | 1:4 -
T/P: previous demand zone

--
*** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***