GBPUSD Short Direction: - GBPUSD was at the end of a Bullish Cycle (Level 3). Therefore, it was due to reverse. - The pair also formed a pattern at the H4 OB (Orderblock), so liquidity was expected to be grabbed from the source before the pair dropped. - Expect Bearish Momentum now.
Entry: - M ( Double Top ) Pattern Formation. - Divergence indicating pair will sell. - Yesterday's high was held for multiple hours, with candles closing below it. The candles only pinned the high which indicated the high was probably not going to be broken. - RSI near the 68, indicating the pair is exhausted and near overbought.
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