Potential Setup as per the below
Bias – Bearish
The Dollar is strong currently so expecting the Pound to continue bearish
Option 1 – Wait to see if price breaks and closes strong above current 1hr structure point, look for a retest of the structure and ride up to current key level.
Option 2 - Wait for price to retrace back to the key level creating a double top, taking out liquidity and then move down with bearish momentum
Bias – Bearish
The Dollar is strong currently so expecting the Pound to continue bearish
Option 1 – Wait to see if price breaks and closes strong above current 1hr structure point, look for a retest of the structure and ride up to current key level.
Option 2 - Wait for price to retrace back to the key level creating a double top, taking out liquidity and then move down with bearish momentum