GBP/USD: Bearish Momentum Confirmed - Short Play

GBP/USDShortIntraday1d ago0 views

Trade Setup

Entry Price

1.2625

Stop Loss

1.2697

Take Profit

1.2446

Risk : Reward

1 : 2.49

RiskReward

Market Overview

The trend is clearly bearish on GBP/USD. We're currently around 1.26102, with a -0.31% drop over 24h. This confirms the downside pressure. The trend is your friend, and it's pointing south.

Intraday Setup

Levels are clear for a short. Resistance at 1.267 held up nicely within the day range. I'm looking for a retest towards 1.2625 for entry. My Stop Loss is set at 1.2697, just above that key resistance. Targeting 1.2446, well past the 1.255 and 1.25 support levels. Clean setup.

Outlook & Action

General market sentiment and USD strength continue to support this move. While anything can happen, the technicals align. Taking this trade for an intraday run. Manage your risk.