Short term (Intraday)

1,7440. GBPUSD currency pair is in an downtrend directed by 1H exponential moving averages. GBPUSD is in a consolidation after the last bearish movement. GBPUSD is in a range between 1,7340 and 1,7630. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,7650 (210 pips). The downtrend should continue to gather momentum.

We could take a short position at 1,7550. We will put the stop loss above 1,7650 (-100 pips). The targets are 1,7400 (+150 pips, risk/reward 1:1.5), 1,7340 (+210 pips, risk/reward 1:2.1) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances 1,7500 – 1,7650
Supports 1,7400 – 1,7340

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