GBP/USD could stabilize below 1.5528 for many days now.
It's important to note that we have an important zone between 1.5644-1.5528 which was broken now acting as resistance.
Yesterday's daily candlestick respected our zone with a long upper tail failing to go through.
Now the pair has its way to 1.5333 open which may occur after a retest for the high of Yesterday's daily candlestick.
The pair is showing strong downtrend inside the marked bearish channel.
Yesterday's we had our suggested short position triggered at 1.5580 which achieved two of its TP levels at 1.5533, 1.5500.
SL should be advanced to be at entry level.
It's important to note that we have a possible head and shoulders pattern on the 4H chart above which may threaten our short position.
This pattern will be confirmed if the pair manages to have 4H closure above 1.5600 targetting 1.5730 as a final target for the pattern.
