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GBPUSD Local S/R| Swing High| .50 Fibonacci| Price Action

Evening Traders,

Today’s analysis – GBPUSD – trading below its Local S/R where a bearish expansion is probable,

Points to consider,
- Price Action Impulsive
- Local S/R Resistance
(.50 Fibonacci Confluence)
- Swing Low Objective
- Low Volume

GBPUSD’s immediate price action is impulsive, trading below its Local S/R that has technical confluence with the .50 Fibonacci, allowing for a short bias.

The Swing Low is the current objective, exceeding this level will increase the probability of a down trend.

Current volume profile is below average, an influx is highly imminent when testing key trade locations.

Overall, in my opinion, GBPUSD is a valid short with defined risk, price action is to be use upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“Sheer will and determination is no substitute for something that actually works.” – Jason Klatt

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