VitruvianTrader
Short

GBPUSD Bearish Analysis

FX:GBPUSD   Pound Sterling/U.S. Dollar
I have opened a short position in the Potential Reversal Zone (PRZ) at around 1.3080.
Good risk/reward with stops above the PRZ and targets at 1.2950
Target has Fibonacci confluence with a 786 retracement & a 1.27 extension.

Price Action reason for entry was the strong bearish candle close below the structure level.
Entry was made and is more evident on the 1 hour chart.
Strong bearish close and a minor pullback.
Comment: Position closed + 111 pips
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