GBP/USD_1st Week of May 2021

1. Instead of breaking above the weekly trendline and creating HH & HL, price didn't breakthrough and continue making correction and forming larger channel's structure. Potentially price to hit S1 level

3. Expecting correction at 61.8% for price to resume bearish

4. Aiming for Short position at area highlighted in yellow

* Best to wait for the price action and correction structure to complete before taking any position