GBPUSD - Can it break down from the range?

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

GBPUSD has been ranging for the past month and price has once again broken down a S/R level and may continue further downwards. Look for a retrace, retest and rejection in the Entry Zone before any entry. If price rockets through the Entry Zone, this set-up will be invalid.

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

Feel free to discuss and comment, Cheers!

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