Another scenario that could play out, possibly due to GBP related events, is that the pair before dropping will do one last impulse to the upside, completing what could be an expanding flat on the 4hr timeframe ( ). Then the drop. Either way, be ready as if you are not in with short positions, this is your occasion. Don't miss this trade, that has a minimum target in the 0.825 area (running flat scenario on the daily) or in the 0.803 area (expanding flat scenario on the daily).
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Remember that you can always double check the bigger structures that are at play are on higher time frames, by scrolling around the charts of lower timeframes.
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential losses you might need to accept before finding a good trade.
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