GBPUSD is currently inside a channel as observed on the 60 min. and on the 30 min charts. If and when price takes out the low of this month, so far, than the Pound will change the monthly main move to down. Therefore, if the daily range permits when and if that break occurs, a SHORT position should be established and the SL shall be placed above the intraday high.
Therefore, a very nice setup is in the horizon.
The 30 min. chart showing price action inside a rising channel. A break of this pattern should propose a change in short term trens direction. That wil only occur if and when price breaks below 1.587. A short position could be established in the direction of the main move.
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