We got a lower low, lower close, signalling we want to be looking for Short opportunies! Ive highlighted previous structure where we may see a reaction! There is also Ratio Confluence in this area (red zone highlighted on chart)
Stops would have to go above previous highs so the only way we could potentially get involved on this pair is to shoot for the extended target at the 1.272 Fib Extension! This doesnt seem to be much of an issue as this falls within our next higher time frame structure (green zone highlighted on chart) aswell as having leg completion there too!
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Smart Trading FX
Any ideas on GBPUSD for this week? I think I see a possible short based on fibs. Your thoughts?