GBP/USD 15m — Short the Retest, Not the Flush | Jul 21GBP/USDOANDA:GBPUSDRegimeMatrixCable just broke down. Price lost the 1.3384 level — where the bulk of recent volume had built and where structure was holding — and is now pressing lower with the anchored VWAP rolling over from above. Both timeframes are expanding and pointed down, and the trend is well-established rather than fresh. This is a continuation environment. The play is selling rallies, not fading the drop and not trying to pick the bottom. But I'm not shorting 1.3370. Price is mid-flush, already extended into the move. Chasing the falling candle here means entering right where a bounce tends to start. The better entry is the retest. The trade: Short: A pullback up into 1.3384–1.3390 — the broken level, now flipped to resistance, with the declining VWAP sitting right in the same zone. Three things stacked: old support turned resistance, the point of control, and VWAP overhead. If price bounces back into that band and fails to reclaim — sellers stepping back in, a lower high forming — that's the entry. Target the thinner area below toward 1.3340. Stop above the zone with real room, not jammed under it. Because the trend is clean and both timeframes are participating, if the retest rejects I'm inclined to hold the runner rather than bank early. Long: Not interested. Buying into an aligned downtrend at a broken level is exactly the trade my process exists to avoid. If price never bounces and just keeps sliding, I miss it — and that's fine. A missed trade costs nothing. Chasing an extended flush into a magnet costs real money. Sell the retest. Let it fail. Respect the level. Not financial advice. Trade your own plan.