GBP/USD: Bearish Momentum Continues. Shorting the Rally.

Trend Confirmation

GBP/USD shows clear bearish momentum. The 24h change is down -0.33%, currently sitting at 1.26084. We've seen a strong rejection from the day's high of 1.26708. The trend is your friend here; it's pointing down. We're well off the 1.2671 resistance.

The Play

I'm looking for a short entry on GBP/USD at 1.2623. This is a textbook entry, fading into resistance within the broader bearish trend. My stop loss is tight at 1.2698, just above the established resistance. Take profit target is aggressive at 1.2436, aiming for a break through 1.25 support on continued USD strength. Let it play out. Simple is best.