GBP/USD: Resistance Holds Strong – Short Setup Initiated
GBP/USDShortScalp2w ago4 views
Trade Setup
Entry Price
1.2655
Stop Loss
1.2662
Take Profit
1.2637
Risk : Reward
1 : 2.57
RiskReward
Market Snapshot
GBP/USD is stuck, trading sideways right around 1.2654. Day range tight: 1.2648 - 1.26601. We're pressing into immediate resistance at 1.266, and it's holding firm. This lack of upward momentum, coupled with a slight dollar bid creeping in, sets the stage. The trend might be sideways overall, but at these levels, the path of least resistance is down.
The Trade: Short Cable
My read is clear: resistance at 1.266 is a rejection point for a scalp opportunity
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