OraclePips

GBPUSD Bias: Short

Short
FX:GBPUSD   British Pound / U.S. Dollar
Currently, after the change of character has occurred and we have also the break of structure (the first lower low) as indicated on the chart above, the cable is retesting the supply area (the lower high, and a big long-legged doji is about to form after a small bearish candle, showing us that the bulls are rejecting the cable is seeming to be no more interested in the market price. You can take this advantage by placing a sell limit order at 1.2792 or a sell by market order and exit at 1.2700 (92 pips). Or better, you can wait for the h4 to close to make any decision.

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