GBP/USD: Shorting Resistance, Targeting 1.26

Technical Breakdown

GBP/USD at 1.26403, hitting strong resistance around 1.2655. Price has struggled all day to break past 1.26549. The current sideways trend is failing to push higher, indicating sellers are defending this zone. Simple is best – resistance holds, we go short.

Trade Setup & Outlook

My entry for this scalp is 1.2644. We're looking for a quick move down, targeting the key psychological support at 1.26, well below the 1.2626 level. Stop Loss is tight at 1.2662, just above the daily high and resistance. USD is finding bids across the board, which should provide the fundamental push needed. Let it play out.