GBPUSD Trade setup

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GBPUSD Trade setupGBP/USDOANDA:GBPUSDInsidertrader489Entry: Look for short entries on the current retest of the broken support level (around 1.36345). Wait for a bearish candlestick confirmation pattern (like a pin bar or engulfing candle) for extra confirmation before entering. Stop Loss (SL): Placed at 1.36762. It is crucial to have a predefined exit point if the market moves against you. Take Profit (TP): The target for this potential downward move is 1.35893. This target aligns with a logical next level of support visible on the chart. Risk/Reward Ratio (R:R): With an estimated 42 pip stop loss and a potential 45 pip profit, this trade offers a nearly 1:1 risk-to-reward ratio. Please manage your risk carefully and according to your personal trading plan.