gbpusd short idea

Price is @ 23.6 fib retracement level we see the price reacting to this level showing great signs of resistance, owing to the fact that it has broken from the descending channel this would bring bullish ideas into our minds, it is a great possibility, but there is more room in the downward side than the upside and a formation of heads and shoulders is on the cards in the daily time frame, therefore, I'm going to take the bears side on this.








Remember all entries require confirmation and use good risk management, have a great weekend.

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