1,4988. GBP USD is in an downtrend directed by 4H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,5060 (72 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,4990. We will put the stop loss above 1,5100 (-110 pips). The targets are 1,4780 (+210 pips, risk/reward 1:1.9), 1,4600 (+390 pips, risk/reward 1:3.5) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.