GBP/USD: Fading Resistance, Targeting Deeper Pullback
GBP/USDShortScalp1w ago22 views
Trade Setup
Entry Price
1.2639
Stop Loss
1.2670
Take Profit
1.2563
Risk : Reward
1 : 2.45
RiskReward
Market Read
GBP/USD is showing a sideways chop right now, bouncing between 1.26076 and 1.26585. Current price at 1.26331, we're seeing some resistance holding near 1.2659. The 24h change is slightly negative (-0.13%), indicating a bearish bias within this range. With the general USD bid we're seeing, I'm looking for a fade here.
The Play
Setting up a scalp short on Cable. My entry is 1.2639, catching a retest of that short-term resistance. Stop loss tight at 1.267, just above the
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