GBPUSD - Broke down, heading lower?

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

This is a longer time frame update on my previous GBPUSD analysis. On a Daily time frame, a bearish engulfing candle offers a SHORT opportunity. Looking at shorter time frame, we can see that price has broken down from the rising wedge pattern, and could continue heading lower. Look for bearish price action before any SHORT entry.

The TP levels and Stop Loss are indicated on the chart. Remember to manage your risk!

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