GBP/USD: Cable Cracks – Intraday Short Play
GBP/USDShortIntraday4h ago2 views
Trade Setup
Entry Price
1.2622
Stop Loss
1.2699
Take Profit
1.2429
Risk : Reward
1 : 2.51
RiskReward
Market Outlook
GBP/USD is clearly bearish. We're seeing -0.34% down today, sitting at 1.2607. The trend is your friend, and it's pointing south. Price action rejected the 1.2672 resistance zone earlier, indicating strong selling pressure. Broader USD strength also supports this downside bias.
My Setup
I'm looking to short GBP/USD intraday. Entry at 1.2622, catching a retest of prior support turned resistance. My Stop Loss is set tight at 1.2699, just above the 1.2672 resistance and day high. Take Profit target is ambitious at 1.2429, eyeing a break below the 1.25 support levels. Watching closely for momentum.
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