1. Notice the smaller divergence formed ( 67.88 - 66.19). This is our area of interest.
2. Horizontal range bound break out targets to 1.69250. So if you haven't bought GBPUSD as the breakout, then forget new long positions.
3. Focus on shorting from 1.69250. Look for any signs of patterns on this end (H4/H1 would be good). Best way is to put a sell limit on retracement after price hits 1.69250 and drops lower.
4. Look for 1 or 2 spikes at the level (from H1 or H4) to identify stops... If any high is formed around 1.7046 with pinbars/dojis/beraish or similar, it is a confirmation to short.
5. Target 1.6742 (rounded off)
"RR is not that great, but it offers a nice small trade to get some lunch money.. especially if a high is formed at 1.7046 region to short from a pullback to 1.69250."