GBPUSD Potential for Bearish Trend | 10th August 2022

On the H4, with prices breaking the ascending channel we are now slightly bearish biased. Our entry will be along 1.211 as we wait for pull back before we short a position. stop loss placed at 1.227 where our swing high and 78.6% retracement sits. with the bearish momentum, we're looking at price moving toward 1.202 which coincides with 50% Fibonacci retracement to take profit.

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