Cable Cracks: Riding the Bearish Momentum

Trend Confirmation

GBP/USD remains under significant pressure, currently trading around 1.26072 and down -0.34% in 24h. The daily range from 1.25431 to 1.26714 shows the sellers are in control. The trend is clearly bearish, my friend. We've seen rejection off 1.2671 resistance, indicating strong downside bias driven by broader market sentiment favoring the dollar.

The Short Play

Looking to scalp this move lower. My entry is aggressive at 1.2623. Placing a tight Stop Loss at 1.27, just above that strong resistance. My Take Profit is set for 1.2431, targeting a push through the 1.25 and 1.2543 support levels. The setup aligns with the existing downtrend.

Outlook

This is an aggressive play, but the technicals are lining up. Watching closely for price action around entry. Uncertainty is always there, but the trend dictates the direction.