GBPUSD continues to remain bearish

After the consolidation breakout earlier, GBPUSD is preparing for another round of selling as it currently tests the 4-hour price level.

Currently at 1.3047~, this pair has tested the one week highs last hit on August 10th. With the longer upper wicks forming, selling pressure is beginning to weigh in.

Screenshot at Aug 17 23-12-23
GBPUSD 4-Hour

Current take profit is set to the 1.2930~ level, which sits just above the buy acceleration in order to not go aggressive into a potential demand zone.

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