FX.co ★ Trading idea for GBP/USD

As expected , GBP / USD tested the retracement levels then continued to decline to 1.35700. This formed an inside bar, which suggests further downside potential in the market.

To those who failed to take short positions last Friday, you can still open some, at least until a false breakdown at 1.35700. After all, the pair is currently forming a third downward wave, and it is the most powerful one among all the waves in the pattern (three-wave).

This analysis is based on Price Action and Stop Hunting strategies.

Good luck and have a nice day!