GBPUSD - Bearish momentum reverses bullishness

PAIR IN FOCUS: GBPUSD
ACTION: SHORT
HORIZON: SHORT TO MEDIUM-TERM

On the Weekly or Daily time frame, we can see that the week ended with bearishness prevailing, wiping out almost the whole week's bullish gains (retracement of bear wave). Watch for bearish price action before any SHORT entry. GBP pairs are quite volatile, so leave enough space to float if you want to aim for further TPs, and of course, shift your SL to break even.

The TP levels are downside price levels to look out for, and have been indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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