Overall bullish trend for Cable, which has presented a correction opportunity off the daily.
Moving lower implies an obtuse support to break, making it a tough call for further downside potential.
Longs of current 1.27200 allocates very poor risk to reward - this implies a better ratio off buying the impending dip toward 1.26700 .
The GBPUSD pair appears to be displaying signs of weakness, with the upward bias on the 1-hour chart appearing to fade. If the price closes below the channel or trendline, I expect it to reach the 1.23250 and 1.231300 price levels. Share your thoughts on this and don't forget to follow me for updates.
Unsustainable up-move. Massive imbalance left (4H) which has to be filled. Congestion zone created which can be manipulated. If so I aim for the order block above which caused the impulsive move down. RR --> 3.86
