GBP/USD Short Sell - Potential Downtrend Continuation

15 Jan

Consider a short position on GBP/USD with an entry at 1.272. The pair has struggled to break resistance at this level, and recent weak economic data and political uncertainty point toward further GBP depreciation. Target 1 is set at 1.255, a key support level and potential area of profit-taking. If momentum persists, target 2 at 1.230 offers a significant reward-to-risk ratio. Manage risk with a stop-loss above 1.280. This trade aligns with the broader bearish sentiment on GBP and could offer attractive gains in the current market climate.