GBP/USD Short: Riding the Bearish Momentum

Market Overview

GBP/USD remains firmly in a bearish trend. We're currently at 1.26097, down 0.32% in the last 24 hours. Price has struggled to push past the 1.267 resistance level, confirming the downtrend. For me, "the trend is your friend" and this one is clear. The broader macro picture continues to favour USD strength, adding fundamental support to this technical setup.

Trade Setup

Looking to scalp short GBP/USD. My entry is set at 1.2624. I'm targeting a Take Profit at 1.2443, with a tight Stop Loss at 1.2696. This keeps risk defined just above the key 1.267 resistance and yesterday's high.

Levels to Watch

Immediate support lies at 1.2549 and 1.255. If we break through these, the path to 1.2443 opens up. Resistance levels at 1.26