GBP/USD Setup: Bears Eyeing a Deeper Drop

Market Outlook & Technicals

GBP/USD currently sits at 1.26197. The broader trend is sideways, bouncing within its day range of 1.25742 — 1.26652. Price action indicates a rejection from higher resistance. Specifically, the 1.2665 zone has proven tough to break. While we're range-bound, I'm anticipating a move down from these higher levels within the range. Levels are clear for a potential downside play.

Short Trade Plan

My bias is aggressively short on GBP/USD for an intraday move. Taking this trade with an entry at 1.2631, aiming for a retest and break of current support. Stop