Entry only if there is any possible stophunt, im gonna check on smaller timeframe if i can snipe this trade through institutional candles, otherwise im gonna wait for the price to clean the liquidity and then a stophunt scenario to short it.
Price broke the previous uptrend without retesting aiming the previous support liquidity area, leaving an imbalance at 1906-1895. After a period of consolidation price created a downtrend formed a new trend liquidity which then were swept by a single instututional candle before creating the recover of the previous break. Now price is going to the imbalance area...
4hr structure price is creating lower lows from the previous high we had POI , so we are basically waiting for the 50-55% retest of those institutional candles which is the area 88.60 on fibs. Sl 20 pips because price might come to the liquidity area , swep it and then coming down. There i would go for a possible stophunt. Let's see the price action as soon as NY is open
I will be looking for a GJ pullback to the red or grey zone here. This will give me a good chance for the pound to gain strength after the market close to set us up for the buy assuming dollar weakness.