Let's take a look at the situation on the GBP/USD pair. The first thing that catches your eye is a strong fall of the instrument, which exceeded the average weekly move by one and a half times. Today we see the opposite movement, which is logical and highly probable that the pair will reach the level of 1.3698.
Trading plan:
Search for a sell pattern when testing the zone 1.3695-1.3687.
Take profit - August low
Stop Loss - 1.3718
This cancellation is beneficial as the risk/reward ratio is 1 to 3.
The work in the downward direction is impulsive, therefore, when the low is updated, you can leave part of the position for more distant targets, and transfer the remainder to breakeven.
The structure will be broken if today's trading closes above the level of 1.3695.
