H4 pushed up into 1.31000 and rejected this level shortly after. We saw the MPC Official Bank Rate Votes, Official Bank Rate e.t.c didn't even make this pair break a sweat considering yesterdays high was never met instead price did a retest on the lower time frame of 1.30750 -1.30800 then pushed back down. The previous H4 closed below 1.30485 which was holding price at support of 16 hours, the breakout and retest of this level further added to my confluence for a sell setup considering that price hit a daily supply level. I'm anticipating that the dollar will be stronger than the pound once NFP is released causing a momentum shit and a tumble back down to resume it's long term momentum. We aren't out of the woods yet since there's another support level ( 1.30300 ) to be cleared before finally strengthening a bearish flow to the market.
Trade closed: stop reached:
Stopped at B.E