S/R Flip, quick scalp opportunity on the 240m for GBPUSD

Today, I'll give an example of how to trade the Support Resistance Flip or "S/R Flip" in short.

First of all, we can see a clear horizontal resistance that formed earlier. After the resistance has been broken and we see a quick retracement down, this old zone of resistance now forms the logical zone of support.

I expect the support zone to hold and continue the overall slightly upwards trend. A logical exit for this scalp would be on the smaller horizontal support that we found earlier that now might act as a resistance.

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