pound dollar has recently approached a decent level of resistance, and now we see a subsequent bearish movement. the market trails in a falling parallel channel called the flag pattern.
as for me, the market sentiment is still bearish, and we can still anticipate at least a retest of the recent higher high, the only thing is required - a good entry.
as an entry, I suggest you use a combination of structure and bearish abcd patter. we see how the D point (completion point of abcd pattern) perfectly matches with structure.
for you, I underlined a zone, where I will be looking for entries.
however, I will be looking for confirmation signals, as the market enters this zone, so don't rush!
@ROYALTRADERS, the point is that abcd pattern is considered to be completed when the market reaches a D point - the buy zone on the chart. While it is not completed, IT DOES NOT predict the market direction, so I would not suggest you sell the market based on this pattern!