GBP/USD: Short Play as Range Tops Hold

Market Read

GBP/USD is currently tracking at 1.26584, hovering near the top of its intraday range (1.26458 — 1.26709). While the broader trend is sideways, we're seeing clear rejection around the 1.2671 resistance level. The momentum indicates a fade is due from these highs. Dollar strength is also holding firm, providing underlying pressure against the Sterling.

The Setup

I'm initiating a short on GBP/USD. We've seen resistance at 1.2671 hold strong, signaling a potential move back towards the lower end of the day's range and beyond.
* Entry: 1.2661
*Stop Loss