GBP/USD: Bearish Trend Continues, Eyeing Fresh Lows

Market Outlook

GBP/USD remains firmly in a bearish trend, with the pair down -0.37% over 24 hours at 1.26029. The trend is my friend here; strong USD sentiment is dominating, pushing cable lower. Resistance at 1.2674 held firm, suggesting further downside pressure. The recent dip confirms the sellers are in control.

Intraday Trade Setup

I'm looking for a short position on GBP/USD. My entry is at 1.262, anticipating a retest of previous resistance before the next leg down. Stop loss is placed at 1.2705 to manage risk, just above the daily high of 1.26735 and strong resistance at 1.27. My target is set aggressively at 1.2408, eyeing a break below the 1.25 support levels. Watching closely.