GBPUSD shorts from last week lows

Key Resistance: 1.3888
Key Support: 1.3800

The GBPUSD has been trading inside a short-mid term bearish structure since it retested the 1.40 level back in July 29th and yesterday we saw a bullish move towards last week’s lows.

Looking at the USD  and how it has been rallying a retest of last week’s lows on the GBPUSD (on a 9 day bearish move) is the perfect spot to buy USDs by shorting the Pound-Dollar.

This setups gives us a a great 2R on a retest of the weekly lows.